JPMorgan Chase, the largest bank in America, is taking legal action against additional customers accused of exploiting an ‘infinite money’ ATM glitch that became widely known on TikTok last year. The glitch allowed users to deposit large checks and withdraw funds immediately, even if the checks later bounced. This resulted in significant financial losses for the bank. According to a lawsuit filed in Gwinnett County, Georgia, one individual deposited a $73,000 check and withdrew $82,500 before the check was returned as invalid. The accused still owes JPMorgan $57,847.69. Similar lawsuits have been filed in Miami, the Bronx, New York, and Texas counties. JPMorgan is actively pursuing these cases and has sent letters to approximately 1,000 individuals requesting repayment. While many banks allow partial access to check funds before clearance, check fraud remains a federal crime. Despite the rise of digital payment methods like ApplePay, paper checks remain prevalent in the U.S., unlike in European countries such as the Netherlands and Denmark where they have been abolished.
— new from New York Post
