Chase Bank has issued a warning to TikTok users following a viral trend that claimed to offer “free cash” through a “money glitch.” The trend encouraged individuals to write large checks to themselves and withdraw the funds before the checks cleared, a practice that Chase has confirmed is illegal. Participants in the trend now face the possibility of serious legal consequences.
The trend spread quickly on TikTok, with users posting videos of themselves withdrawing large sums of money, believing they had discovered a loophole in the banking system.
These individuals were exploiting a grace period offered by Chase Bank, which temporarily makes funds from deposited checks available before they are fully processed. Participants in the trend wrote checks for tens of thousands of dollars to themselves and then attempted to withdraw part of the money immediately.
Chase Bank responded by issuing a statement that clarified the situation. “Depositing a fraudulent check and withdrawing the funds from your account is fraud, plain and simple,” said a Chase spokesperson. The bank has since addressed the issue and is working to prevent further incidents.
Legal experts warn that individuals caught participating in check fraud could face significant fines and jail time. Misdemeanor charges for check fraud can lead to up to one year in jail, while felony charges can result in longer prison sentences and substantial fines.
This situation highlights the dangers of following unverified online trends and the potential consequences of engaging in illegal activities.
