Sport Investors League
  • Politics
  • Stocks
  • Investing
  • Business

Sport Investors League

  • Politics
  • Stocks
  • Investing
  • Business
Business

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

by admin September 10, 2024
September 10, 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
The fight for the future of the Murdoch media empire is about to begin
next post
The White Stripes sue Trump for using ‘Seven Nation Army’ in campaign video

Related Posts

Budget airline Spirit is trying to go upmarket...

July 31, 2024

Lowe’s becomes latest company to dial back DEI...

August 29, 2024

Party City to close all of its stores,...

December 21, 2024

How Trump could spare Biden’s renewable energy credits...

December 20, 2024

Nvidia results spark global chip rally

May 30, 2025

Novo Nordisk to build $4.1 billion North Carolina...

June 27, 2024

It wasn’t the endless shrimp that pinched Red...

May 25, 2024

Biden administration orders online banker Chime to pay...

May 9, 2024

Trump’s tariff threats send U.S. companies scrambling for...

November 14, 2024

Here’s why business leaders are spending big on...

December 26, 2024

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free


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

    Recent

    • Dem senator compares American founding principle to Iran’s theocracy: ‘Extremely troubling’

      September 5, 2025
    • China shows missiles, Trump shows muscle: Xi’s strategy can’t match US

      September 5, 2025
    • VP Vance curses out senators after heated Kennedy hearing: ‘Full of s— and everyone knows it’

      September 5, 2025
    • Trump stands by RFK Jr. after heated Senate hearing: ‘I like the fact that he’s different’

      September 5, 2025
    • Whatever happened to: The Qatar Air Force One jet

      September 5, 2025

    Categories

    • Business (1,101)
    • Investing (2,978)
    • Politics (3,629)
    • Stocks (1,155)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: sportinvestorsleague.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 © 2025 sportinvestorsleague.com | All Rights Reserved