Chase Bank aware of customers attempted to game ATMs with viral ‘glitch’

Published: Sep 03, 2024 Duration: 00:03:22 Category: News & Politics

Tags : live Morning News NOW

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CUSTOMERS, MAKING IT ONE OF THE LARGEST PAID TV PROVIDERS, SAVANNAH. >> ALL RIGHT. THANK YOU SO MUCH. >>> WELL, IN OTHER BUSINESS NEWS, A NEW VIRAL TIKTOK TREND THAT SOME USERS ARE CALLING A MONEY GLITCH OR FREE MONEY HACK. IT'S ACTUALLY HAVING SOME SERIOUS CONSEQUENCES. HERE'S WHAT IT IS. IT INVOLVES PEOPLE DEPOSITING FRAUDULENT CHECKS INTO THEIR CHASE BANK ACCOUNTS AND WITHDRAWING THE MONEY BEFORE ITS FLAGGED. WELL, THAT'S ACTUALLY FRAUD. FOR MORE ON THIS AND HOW IT STARTED ONLINE, LET'S BRING IN NBC NEWS CULTURE AND TRENDS REPORTER. GOOD MORNING. THANK YOU SO MUCH FOR JOINING US. GOOD SO SEE YOU. SO HOW DID SOMETHING THAT'S ACTUALLY FRAUD TURN INTO THIS TREND OR SOMETHING VIRAL, AND DID THIS GLITCH START GETTING ALL THESE VIEW? >> GOOD MORNING, SAVANNAH. SO AT THE END OF AUGUST, SO JUST A FEW DAYS AGO, PEOPLE BEGAN SAYING THAT THEY HAD FOUND A QUOTE/UNQUOTE LOOPHOLE AT CHASE BANK WHERE THEY WERE DEPOSITING CHECKS BASICALLY IN THEIR OWN NAME, DEPOSITING IT INTO THEIR OWN ACCOUNTS, AND THESE WERE CHECKS FOR, YOU KNOW, ASTRONOMICAL AMOUNTS, $THRURTS, $40,000, AND THEY WERE SAYING THAT, YOU KNOW, CHASE WILL BASICALLY FRONT THAT MONEY WHILE THEY WAIT FOR THE CHECK TO CLEAR, AND SO PEOPLE ARE WITHDRAWING THE MONEY FROM THESE FRAUDULENT CHECKS, AND THEY CALLED IT A MONEY GLITCH. WHAT THEY DIDN'T REALIZE IS THAT THEY WERE GOING TO HAVE TO PAY THAT MONEY BACK WHEN THE CHECK INEVITABLY BOUNCED. SO IT WASN'T A MONEY GLITCH. THIS IS ACTUALLY CHECK FRAUD. AND CHASE ACTUALLY RELEASED A STATEMENT SAYING, PLEASE, PLEASE DON'T DO THIS. THIS IS NOT A GLITCH, THIS IS FRAUD, AND, YOU KNOW, THEY'RE AWARE OF THE SITUATION, AND THEY ARE TRYING TO HANDLE IT TO THE BEST OF THEIR ABILITIES >> WHAT ARE THE CONSEQUENCES FOR SOMEONE WHO DOES SOMETHING LIKE THIS? >> WELL, IF THEY DON'T FIND THEMSELVES IN LEGAL TROUBLE AND FIND THEMSELVES, YOU KNOW, FACING A CASE WITH CHASE IN A COURT OF LAW, THEY'RE GOING TO BE ON THE HOOK FOR A LOT OF MONEY. IN SOME CASES -- WHICH WE HAVEN'T VERIFIED WHETHER THEY'RE LEGITIMATE OR NOT, BUT SOME CASES PEOPLE HAVE CLAIMED THAT THEY OWE $10,000, $30,000, AND THEY'RE GOING TO OWE ALL THIS MONEY BACK TO CHASE. SO THERE'S, ONE, THE ASPECT OF COMMITTING CHECK FRAUD WHICH IS GOING TO BE OBVIOUSLY A CRIMINAL OFFENSE. BUT THEN THERE'S THE OTHER ASPECT OF THIS WHICH IS YOU'RE GOING TO OWE ALL THIS MONEY THAT YOU, YOU KNOW, REPORTEDLY DEPOSITED INTO YOUR ACCOUNT AND THAT YOU DON'T HAVE TO COVER. >> I KNOW IN ADDITION TO THIS BECOMING THIS TREND, THIS WHOLE GLITCH THING KIND OF GETTING SOME VIEWS ONLINE, THERE'S ALSO A BIG PILE ON TO SET THE RECORD STRAIGHT IN THIS PARTICULAR INSTANCE, RIGHT? >> YES, THERE IS. ON TIKTOK, THERE ARE MANY VIDEOS IN WHICH PEOPLE ARE SAYING THIS IS NOT A LOOPHOLE. THIS IS A CRIME, AND, YOU KNOW, THERE'S A LOT OF PEOPLE SAYING, LIKE, PLEASE DON'T DO THIS, THIS IS FRAUD. I THINK A LOT OF PEOPLE WERE JUST UNAWARE OR MAYBE IT'S YOUNGER PEOPLE WHO ARE, YOU KNOW, JUST GETTING THEIR FIRST BANK ACCOUNTS WHO ARE JUST SORT OF LEARNING HOW TO SPEND AND SAVE MONEY WHO THOUGHT, OH THIS, IS A WAY TO GET FAST CASH, AND THEIR FELLOW TIKTOKERS ARE SAYING THAT'S NOT THE CASE, THIS IS A

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