"Fraud is a crime that impacts everyone and undermines trust in the banking system," said JPMorgan spokesman Drew Pusateri. "We're pursuing these cases and actively cooperating with law enforcement to make sure if someone is committing fraud against Chase and its customers, they're held accountable." This highlights the bank's serious stance on addressing the issue of fraud linked to the recent TikTok trend.
The trend known as the 'infinite money glitch' led people to believe they could withdraw large sums from Chase ATMs without repercussions, but rather, it was simply old-school check fraud. It became a viral sensation on TikTok, causing significant disturbances as crowds started forming at Chase branches across the country.
Lawsuits filed in three federal courts include a case from Texas where a customer reportedly owes Chase $291,000, linked to a counterfeit $335,000 check erroneously deposited at an ATM. This situation encapsulates the drastic financial impact of engaging in fraudulent activities, as explained by the bank in their filings.
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