Smart Trade Insights
  • Business
  • Economy
  • Investing
  • Politics
Top Posts
Rich Checkan: Gold, Silver Still “Dirt Cheap” —...
Operations update with mine production up 25% QoQ
Dr. Nomi Prins: Gold, Silver, Uranium and More...
Andy Schectman: Reset Happening Now — Gold is...
Biggest Canadian Defense Contractors and ETFs in 2025
5 Best-performing Gold Stocks on the TSX in...
Barrick Mulls Canadian Exit as Mali Gold Tensions...
Apple, MP Materials Ink US$500 Million Deal to...
Silver Price Update: Q2 2025 in Review
Inflation picks up again in June as tariffs...
  • Business
  • Economy
  • Investing
  • Politics

Smart Trade Insights

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

previous post
Trump cashes in during final weeks of his presidential campaign
next post
S&P 500 and Nasdaq under heavy bearish pressure this week

You may also like

McDonald’s to close three CosMc’s locations — and...

January 13, 2025

Nvidia results spark global chip rally

May 30, 2025

Amazon and Nvidia say AI data center demand...

April 25, 2025

OpenAI considering 16 states for data center campuses...

February 8, 2025

Trump not expected to carry through on Day...

January 22, 2025

Macy’s says employee hid up to $154 million...

November 26, 2024

Southwest Airlines will charge to check bags for...

March 12, 2025

Rare Michael Jordan, Kobe Bryant rookie jerseys expected...

March 7, 2025

Home prices hit record high in June on...

August 29, 2024

Target rolls back DEI initiatives, the latest big...

January 26, 2025

    Fill Out & Get More Relevant News


    Stay ahead of the market and unlock exclusive trading insights & timely news. We value your privacy - your information is secure, and you can unsubscribe anytime. Gain an edge with hand-picked trading opportunities, stay informed with market-moving updates, and learn from expert tips & strategies.

    Recent Posts

    • Rich Checkan: Gold, Silver Still “Dirt Cheap” — Best Time to Buy Was Yesterday

      July 17, 2025
    • Operations update with mine production up 25% QoQ

      July 17, 2025
    • Dr. Nomi Prins: Gold, Silver, Uranium and More — I’m Focusing on What’s Real

      July 17, 2025
    • Andy Schectman: Reset Happening Now — Gold is Key, Silver Has Massive Potential

      July 17, 2025
    • Biggest Canadian Defense Contractors and ETFs in 2025

      July 17, 2025
    Promotion Image

    banner ads

    Categories

    • Business (768)
    • Economy (829)
    • Investing (2,432)
    • Politics (737)
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: smarttradeinsights.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 smarttradeinsights.com | All Rights Reserved