Sightful Invest
  • Business
  • Investing
  • Politics
  • Stock
Top Posts
Flashback: Top five wildest moments from Elon Musk’s...
Less than half of DOGE-terminated contracts can be...
Jill Biden should have to answer for ‘cover...
DOGE staffing shakeup as Elon Musk hangs up...
State Dept says DOGE’s changes will be permanent...
President Trump teases ‘last day, but not really’...
Trump denounces court’s ‘political’ tariff decision, calls on...
I’m a physician and I’m worried that our...
Inside the late-night drama that led to Trump’s...
Alleged attempt to impersonate White House chief of...
  • Business
  • Investing
  • Politics
  • Stock

Sightful Invest

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
Voters report Kamala Harris is more radical than Trump: ‘too liberal or progressive’
next post
Coniagas Initiates Global Feed First Strategy on Critical Minerals with SGS Quebec

You may also like

AMD launches AI chip to rival Nvidia’s Blackwell

October 11, 2024

Tesla investors want Elon Musk to answer questions...

January 30, 2025

Nvidia to report earnings amid infrastructure spending, DeepSeek...

February 27, 2025

Honda and Nissan officially begin merger talks to...

December 24, 2024

CrowdStrike moves to dismiss Delta Air Lines suit,...

December 18, 2024

Restaurant chain Hooters files for bankruptcy protection to enable founder-led...

April 2, 2025

Chinese tea chain Chagee files for U.S. initial...

March 28, 2025

Argentine President Milei faces impeachment calls for promoting...

February 20, 2025

Nissan could face cost-cutting ‘carnage’ in Honda merger,...

December 25, 2024

Southwest Airlines will charge to check bags for...

March 12, 2025

Recent Posts

  • Flashback: Top five wildest moments from Elon Musk’s DOGE tenure as it comes to an end
  • Less than half of DOGE-terminated contracts can be publicly tracked, only about a quarter of grants: watchdog
  • Jill Biden should have to answer for ‘cover up’ of former president’s decline, White House says
  • DOGE staffing shakeup as Elon Musk hangs up his hat, White House confirms
  • State Dept says DOGE’s changes will be permanent amid Musk’s departure

    Become a VIP member by signing up for our newsletter. Enjoy exclusive content, early access to sales, and special offers just for you! As a VIP, you'll receive personalized updates, loyalty rewards, and invitations to private events. Elevate your experience and join our exclusive community today!


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Categories

    • Business (751)
    • Investing (2,211)
    • Politics (2,729)
    • Stock (4)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: sightfulinvest.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 © 2024 Sightful Invest. All Rights Reserved.