indle a bank.
JPMorgan Chase Continues to Pursue TikTok Fraudsters
It was the best of times, it was the worst of times. JPMorgan Chase is not done chasing down those who participated in a viral TikTok trend that led to mass amounts of fraud. The financial giant has moved on from the initial wave of lawsuits and is now pursuing legal action at the state level.
In case you missed it, a trend on TikTok last fall showed a “glitch” in the banking system that allowed users to deposit checks, wait a minute, and then withdraw the cash amount from an ATM. This led to thousands of people attempting the “glitch” and sharing their success on the app. However, JPMorgan quickly caught on and filed federal lawsuits against those who took out large sums of money, ranging from $80,000 to $300,000.
Now, the bank is going after those who took smaller amounts, with new lawsuits being filed in state courts for amounts as low as $58,000. This includes cases in major cities like Miami, Houston, and Los Angeles, and even involves organized schemes and fake businesses.
The lesson here? Don’t try to defraud a trillion-dollar bank that already has access to your personal information, and definitely don’t livestream your illegal activities for the world to see. JPMorgan Chase is not playing around and will continue to pursue those who participated in this fraudulent trend. So, if you’re thinking about trying it, think again.
