An illicit method of extracting cash from JPMorgan Chase ATMs is going viral.
Posts and videos are spreading across social media of a supposed “glitch” that appears to be centered on depositing fake checks into the bank’s ATMs.
[adinserter block="1"]Once a fake check is deposited, customers are then withdrawing a portion of the funds that are automatically credited to the account.
Although the method may place cash in hand, it’s essentially check fraud, and Chase is already placing account balances in the negative for those making the attempt.
Check fraud involving ATMs isn’t new, and anyone caught could be prosecuted and face charges of bank fraud, wire fraud and other related crimes.
ATM software is among the most rigorously tested code in the world and although it’s rare, actual ATM glitches do occur.
In November of last year, customers at NatWest bank in London rushed to an ATM that was spitting out more cash than requested.
And in August of last year, a glitch allowed Bank of Ireland customers to withdraw up to €1,000 at ATMs nationwide, even when they had little or no money in their accounts.
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