Whale Large Capital
  • Politics
  • World News
  • Business
  • Investing
  • Politics
  • World News
  • Business
  • Investing

Whale Large Capital

Business

Chase Bank is referring check fraud ‘glitch’ incidents to authorities

by September 9, 2024
September 9, 2024
Chase Bank is referring check fraud ‘glitch’ incidents to authorities

Chase Bank said it was reviewing incidents of individuals who may have participated in an online check fraud ‘glitch’ trend and referring them to law enforcement authorities.

Last weekend, social media saw millions of users engaging with posts suggesting an error at the bank was causing ATM machines to give users unlimited cash.

In fact, the meme was prompting users to commit check fraud by requesting cash they didn’t have after depositing a phony check for the amount they were seeking.

Within 24 hours, after the suspicious activity was discovered, users reported having their bank accounts blocked.

“As with any fraud-related issue, we review internally and refer to law enforcement as appropriate,’ a Chase spokesperson said in a statement. ‘Regardless of what you see online, depositing a fraudulent check and withdrawing the funds from your account is fraud, plain and simple.”

The latest development was first reported by The Wall Street Journal, which said the bank was reviewing ‘thousands’ of incidents. NBC News could not independently confirm the figure.

The Journal also reported there was actually a technical error that allowed customers to withdraw the full amount of the funds they requested via check — rather than the usual case of only a partial amount — before it had cleared.

A source familiar with the matter confirmed there was an error that was eventually fixed.

It is not clear how the ‘glitch’ trend began, but by last Saturday, the meme had exploded onto TikTok, where some people filmed themselves bragging about their seemingly newfound riches.

Criminal statutes on the severity of punishment for instances of check fraud vary by state. In California, misdemeanor check fraud charges can carry a one-year prison term plus financial penalties. In New York, misdemeanor check fraud can entail up to three months in jail and a fine.

But the charges can be stiffer depending on the amount of funds implicated in the incident and the individual’s criminal history.

This post appeared first on NBC NEWS
0
FacebookTwitterGoogle +Pinterest
previous post
Israeli forces detain a United Nations convoy in Gaza
next post
Liberal think tank’s deep ties to Biden admin, far-left policies could come back to haunt Harris campaign

You may also like

TGI Fridays operator files for Chapter 11 bankruptcy...

November 4, 2024

Boeing starts furloughing tens of thousands of employees...

September 19, 2024

U.S. airlines cool hiring after adding 194,000 employees...

September 9, 2024

Nvidia to report earnings amid infrastructure spending, DeepSeek...

February 27, 2025

East and Gulf coast ports shut down as...

October 2, 2024

DOJ seizes record $225 million in crypto tied...

June 19, 2025

McDonald’s Snack Wrap is officially returning. Here’s when.

June 3, 2025

Trump commutes sentence of Ozy Media founder Carlos...

March 29, 2025

Rite Aid files for second bankruptcy in two...

May 6, 2025

Kohl’s CEO Tom Kingsbury to step down and...

November 26, 2024

    Subscribe today to receive exclusive access to all our retirement secrets and income strategies, including special financial news and updates from our experts. From time to time, our newsletters feature valuable insights and analysis on the latest financial trends. Don't miss out on these exclusive updates – join our subscription to stay informed!


    By opting in you agree to receive emails from us. Your information is secure and your privacy is protected.



    Latest

    • Duffy just got an additional job in Trump’s administration — and he’s not the only one wearing multiple hats

      July 10, 2025
    • ‘It will happen quickly’: State Dept poised to act after Supreme Court green-lights agency layoffs

      July 10, 2025
    • Hegseth tears up red tape, orders Pentagon to begin drone surge at Trump’s command

      July 10, 2025
    • SCOOP: Sen Ron Johnson readies subpoenas for FBI, DOJ in Butler shooting probe

      July 10, 2025
    • Jackson defends controversial, fiery SCOTUS dissents as telling people ‘how I feel’

      July 10, 2025
    • White House accuses Powell of mismanaging Federal Reserve, citing headquarters renovation

      July 10, 2025

    Categories

    • Business (714)
    • Investing (661)
    • Politics (4,860)
    • World News (3,213)
    • Terms & Conditions
    • Privacy Policy
    • Contact us
    • About us

    Disclaimer: WhaleLargeCapital.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 WhaleLargeCapital.com | All Rights Reserved