Chase check fraud—breaking down the "Chase money glitch"

Chase ATM "glitch" overview and what it teaches us

The Chase check fraud incident began as a viral TikTok trend, where users claimed they had discovered a way to exploit ATMs for free cash using fraudulent checks. While the trend seemed like an internet hoax to some, the consequences were very real for unsuspecting Chase customers. Fraudsters used bad checks to withdraw funds that didn’t exist, leaving their accounts with a negative balance and the bank scrambling to cover the financial damage.

This bank scam reportedly resulted in significant losses for the bank before the fraudulent activity was caught. The incident exposed how online misinformation can exacerbate vulnerabilities in banking systems, underscoring the importance of strong fraud detection and consumer vigilance.

How to protect your checks from fraud

To help protect yourself from check fraud and identity theft, consider the following precautions:

• Securely mail checks: Use tamper-proof envelopes and drop your checks off directly at the post office rather than leaving them in your mailbox. Criminals often target residential mailboxes to intercept checks.
• Monitor bank activity regularly: Set up alerts for transactions and review your bank statements frequently. Quick detection can limit the damage from fraudulent activity.
• Use high-security checks: Opt for checks with added features such as watermarks, microprint text, and heat-sensitive ink. These enhancements make it harder for fraudsters to replicate or alter your checks.

If you notice suspicious transactions, act immediately. Report the activity to your bank and consider contacting an identity theft protection service to safeguard your financial accounts and personal information.

Ensure your financial security

Services like LifeLock offer advanced identity monitoring and restoration services, helping you regain control in case of identity fraud.

Protect what’s yours with LifeLock Advantage

Your identity is one of your most valuable assets. LifeLock helps you monitor threats to your personal information and provides a dedicated restoration specialist to assist in cases of fraud. Don’t wait—secure your financial future today.