JPMorgan Chase is taking legal action against customers who allegedly exploited an 'infinite money glitch' that allowed them to deposit checks and withdraw funds before the checks cleared. This fraud gained attention last year through TikTok, resulting in some individuals accruing significant ill-gotten gains. The bank initially filed lawsuits against clients in October and is now pursuing additional cases involving sums under $75,000. JPMorgan aims to recover funds and is cooperating with law enforcement in this nationwide effort against check fraud.
JPMorgan is suing customers who exploited an 'infinite money glitch' that allowed massive withdrawals from bounced checks, seeking reimbursement for substantial losses.
Chase first took legal action in October against clients who exploited the technical failure, with reports of customers withdrawing amounts up to six figures.
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