In recent days, a viral TikTok trend has emerged, rebranding bank fraud as a seemingly exploitable “Chase Bank glitch” that offers users unlimited money for free. Surprisingly, some individuals fell for this fraudulent scheme and ended up committing a crime, resulting in substantial debt. While the majority of creators on TikTok are advising against taking advantage of this supposed glitch, there have been photos and videos circulating on social media showing people proudly displaying stacks of cash they allegedly obtained through this method. On the other hand, there are also individuals who are now panicking over their bank balances, as they are deep in debt after the error was rectified.
The Chase Bank “glitch” is quite simple. Customers write a bad check to themselves for an exorbitant amount of money, deposit it, and swiftly withdraw the cash from an ATM before the bank realizes that the funds are nonexistent. This method is similar to a form of bank fraud known as “cheque kiting,” which has been around for over a century. However, what sets this trend apart is the use of the term “glitch” to rebrand bank fraud. It appears that the power of branding has successfully obscured the criminal nature of the act, enticing people to try it out for themselves.
Although individuals are using their own bank accounts for this “glitch,” it should be relatively easy for Chase Bank to track them down. In response to the situation, Chase Bank has released a statement stating that they are aware of the incident and have taken appropriate action. They emphasize that regardless of what people may see online, depositing a fraudulent check and withdrawing funds from an account is unequivocally fraud.
It remains unclear how the Chase Bank “glitch” trend originated or how many people actually attempted it. It is entirely possible that some individuals are fabricating screenshots or skits to take advantage of the viral moment. It is more plausible to believe that they are joking or creating content for entertainment purposes rather than genuinely attempting to scam the largest bank in the United States and get away with it. Nevertheless, Mashable has reached out to Chase Bank for further comment on the matter.
In a society where the cost of living is skyrocketing, many people are searching for ways to earn extra money. Consequently, easy money hacks such as the Chase Bank “glitch” may appear incredibly tempting. However, it is crucial to remember the age-old adage: if something seems too good to be true, it probably is.
In conclusion, the TikTok trend that rebrands bank fraud as a “Chase Bank glitch” is a dangerous and illegal scheme. While some individuals may have fallen for it, it is important to recognize the serious consequences of committing such a crime. Banks like Chase are actively working to address and prevent fraudulent activities, and individuals should always exercise caution and skepticism when encountering supposed shortcuts to financial gain.