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A “new” TikTok trend that claims to give you free money at Chase ATMs is simply outdated Check fraudThe company stated:
The trend involves people depositing large amounts of checks and then withdrawing most of the money before the check bounces. On Thursday, a post about the scam was posted: About X It has been viewed more than 7.5 million times, and its popularity soon spread Lines form at Chase Bank In New York.
A Chase spokesperson confirmed Tuesday that the bank was aware of the situation and had addressed it. Chase has now corrected the error. Locked Account It was used Equalized negative balance Labeled “DR due to ATM/DEP error”
Related: Jamie Dimon says mild recession still possible: ‘There’s a lot of uncertainty out there’
“Regardless of what you may have seen online, depositing a fraudulent cheque and withdrawing funds from your account is a scam, plain and simple,” the spokesperson said. stated.
This run is personal pic.twitter.com/PQY9m39xa0
— Drench (@ionfeellnun) August 30, 2024
Check fraud is 385% increase Since the pandemic.
While TikTok and other social media may have played a negative role in spreading the Chase glitch craze, TikTok has been a home for less fraudulent personal finance crazes, such as the “Pay Off Your Debt” craze, in which viewers banded together to help each other pay off their debts by watching each other’s videos.
“We have to remember that financial security is usually a long-term game,” said Jake Burgett, a physician assistant student who is a driving force behind this trend. Entrepreneur In June: “Social media gives us the illusion that we can solve our money problems instantly. It’s nice to be able to put that theory into practice, but in the process, be careful not to sacrifice more than you can afford.”
Related: ‘Paying off my debt’ TikTok user explains how much money her viral video made and how it started the trend
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