Chase Bank has filed four federal lawsuits over a scheme where customers allegedly withdrew a total of more than $661,000 by depositing counterfeit checks. This so-called 'infinite money glitch' trend, which gained traction on social media, led to numerous fraudulent transactions. The bank emphasized that regardless of online commentary, engaging in such activities constitutes fraud. The incident raises significant concerns about financial security amidst the rise of digital platforms facilitating illegal activities.
In a high-stakes example, one individual reportedly withdrew $290,939.47 after an accomplice deposited a $335,000 counterfeit check. The case illustrates the organized nature of the fraud, with accomplices involved in the checks' deposits. In this environment of widespread social media influence, people are encouraged to explore risky behavior, but Chase firmly warned that these actions are illegal and subject to prosecution.
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