Oct. 29 (UPI) — The banking giant JPMorgan Chase began suing U.S. customers who allegedly stole large sums of money after a viral video brought attention to a technical ATM glitch over the summer.
The bank, as of Monday had filed at least four complaints in at least three federal courts alleging users sought to exploit a so-called “infinite money glitch” that went viral on TikTok and other social media platforms by depositing up to hundreds of thousands of dollars in fake checks and withdrawing the funds before the checks bounced.
JPMorgan said in September that it had closed the loophole that made the funds available shortly after the funds were deposited, while most banks allow customers to only withdraw a fraction of a check’s value until it clears, usually several days after being deposited.
“Fraud is a crime that impacts everyone and undermines trust in the banking system,” JP Morgan spokesman Drew Pusateri said in a statement to media . “We’re pursuing these cases and actively cooperating with law enforcement to make sure if someone is committing fraud against Chanse and its customers they’re held accountable.”