A TikTok trend that promised “free cash” from Chase Bank by exploiting a supposed “money glitch” has been revealed to be a form of check fraud. The trend encouraged users to write large checks to themselves and withdraw the funds before the checks cleared, leading many to believe they had found an easy way to get money. However, Chase Bank has confirmed that this practice is illegal and warned participants of the serious legal consequences.
The trend gained rapid traction on TikTok, with numerous videos showing users celebrating after withdrawing significant amounts of money. These individuals were taking advantage of a grace period provided by Chase Bank, during which funds from deposited checks are temporarily available before the checks are fully processed. Participants in the trend wrote checks to themselves for large sums of money and then attempted to withdraw part of the money immediately.
In response to the growing number of incidents, Chase Bank issued a statement clarifying 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 taken action to prevent further incidents and warned that those who participated in the trend could face severe penalties.
Legal experts warn that individuals involved in check fraud could face substantial fines and jail time, depending on the severity of the offense. Misdemeanor charges for check fraud can lead to up to one year in jail and significant fines, while felony charges can result in even harsher penalties, including multiple years of imprisonment.
This situation serves as a cautionary tale about the dangers of following viral trends without understanding the potential legal and financial consequences.
