Chase Bank chasing down fraudsters

Lots of stupid stunts are making their rounds on the social media platform TikTok and here’s one that has a large U.S. bank in a tizzy: people are depositing bad checks for large sums and taking advantage of the bank’s timing “glitch” to immediately withdrawal the money as cash.

Chase Bank issued a statement Monday that they fixed this problem and warned that the trend was in fact just simple check fraud: “Regardless of what you see online, depositing a fraudulent check and withdrawing the funds from your account is fraud, plain and simple.”

The number of Chase customers who tried to do this is not immediately known, according to People magazine reporting on the stunt that has TikTok-ers throwing cash in the air and cheering. Other videos show participants upset after seeing large negative balances on their bank accounts following the bounced checks.

Social media users reacted with humorous quips, according to an article in The Guardian: “Check kiting. It’s called check kiting. And it’s been around since the invention of… checks,” Cornell University law professor Dan Awrey wrote on the social media platform X.