In a recent statement, Chase Bank has issued a cautionary message to its customers in response to a viral trend circulating on TikTok and other social media platforms. The trend, which falsely presents itself as a systemwide glitch, encourages users to deposit fraudulent checks into ATMs and withdraw the funds before the check bounces. However, Chase Bank has made it clear that this is not a glitch but rather a check fraud scheme, and individuals who participate will be held liable for the withdrawn funds once the check is discovered to be fake.

Despite some TikTok users referring to the scheme as a "glitch," Chase Bank emphasized that it is in fact an invitation to commit fraud. A spokesperson for the bank stated, "Regardless of what you see online, depositing a fraudulent check and withdrawing the funds from your account is fraud, plain and simple." Chase Bank further assured its customers that the incident has been addressed.

Although NBC News has not verified any instances of individuals actually committing the crime as part of the viral trend, videos have emerged online showcasing people successfully withdrawing cash from ATMs after depositing fraudulent checks into their bank accounts. However, it was not long before others pointed out that participating in such activities is a criminal offense.

The origins of this trend trace back to a user on X, who shared a screenshot of an inflated account balance exceeding $80,000 on Thursday. Soon thereafter, videos began circulating on TikTok, depicting lines forming outside a Chase Bank branch in New York, implying that individuals were flocking to the bank in hopes of "getting free money." However, screenshots of massive negative balances and account holds quickly surfaced, indicating the consequences of attempting to withdraw ill-gotten funds.

The concept of fake check deposits is not new, as it is a commonly utilized method of check fraud. While large check deposits made digitally usually undergo a verification process, some ATMs can grant immediate access to a portion of the deposited amount. This feature allows fraudsters to swiftly withdraw money before the check is cleared or bounces. Criminals often create bank accounts using false identities, deposit counterfeit checks from seemingly legitimate sources, and then abandon the accounts, leaving them with negative balances.

Another prevalent scam involves scammers pretending to have sent a check for a larger sum of money than intended, hoping the recipient will deposit the check and transfer the excess funds, ultimately leaving the victim at a loss when the deposited check proves to be fraudulent.

However, in this case, it appears that individuals participating in the viral trend are knowingly engaging in check fraud against themselves. This practice makes it relatively easy for banks to identify and hold them accountable for their actions.

Following the surge in popularity of the Chase Bank "glitch" trend, many TikTok users took to the platform to ridicule those who attempted it. Some shared stories of waking up to substantial negative balances, while others warned fellow users that outsmarting a multinational banking institution is unlikely. One TikTok user garnered over 1 million likes on a video where they emphasized that participating in such fraud is not a life hack but rather a criminal act that could lead to imprisonment.

Chase Bank urges its customers to exercise caution and not fall victim to fraudulent schemes promising easy money. It is crucial to remember that committing check fraud is a serious offense with legal consequences.