topic Re: Latest TikTok challenge gone wrong in Credit in the News

Latest TikTok challenge gone wrong

JoeRockhead — Tue, 03 Sep 2024 16:33:56 GMT

People taking advantage of a temporary glitch depositing fraudulent checks then withdrawing money they know doesn't belong to them... Play stupid games, win stupid prizes.

https://www.yahoo.com/news/chase-warns-against-using-system-201331004.html

“We are aware of this incident, and it has been addressed,” Chase commented in a statement. “Regardless of what you see online, depositing a fraudulent check and withdrawing the funds from your account is fraud, plain and simple.”

"The number of Chase customers who tried to do this is not immediately known".

"One video posted on social media shows purported participants shouting with joy and throwing cash in the air. Other videos, however, show purported participants then later upset after seeing huge negative balances on their bank accounts once the bad checks had finally bounced yet their withdrawals of cash were still accounted for".

Re: Latest TikTok challenge gone wrong

markbeiser — Tue, 03 Sep 2024 17:48:05 GMT

We are too far down the Idiocracy time line to turn back...it is inevitable.

Re: Latest TikTok challenge gone wrong

pizzadude — Tue, 03 Sep 2024 19:00:47 GMT

At least they're making the prosecution's job easy. Posting a public video of yourself confessing to a felony should make these slam dunk cases.

Re: Latest TikTok challenge gone wrong

cashorcharge — Tue, 03 Sep 2024 21:19:29 GMT

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Re: Latest TikTok challenge gone wrong

CreditCuriosity — Tue, 03 Sep 2024 22:54:19 GMT

SMH.

Re: Latest TikTok challenge gone wrong

CreditCuriosity — Tue, 03 Sep 2024 22:55:37 GMT

@pizzadude wrote:
At least they're making the prosecution's job easy. Posting a public video of yourself confessing to a felony should make these slam dunk cases.

Also the ATM cameras and of course the account and bad check. Only sad thing is as tax payers gotta pay for their jail time.

Re: Latest TikTok challenge gone wrong

TrapLine — Wed, 04 Sep 2024 00:38:45 GMT

@CreditCuriosity wrote:
@pizzadude wrote:
At least they're making the prosecution's job easy. Posting a public video of yourself confessing to a felony should make these slam dunk cases.
Also the ATM cameras and of course the account and bad check. Only sad thing is as tax payers gotta pay for their jail time.

A good solution ... put them to work on the old "work farm concept and pay their way"!

Re: Latest TikTok challenge gone wrong

CreditCuriosity — Wed, 04 Sep 2024 01:31:29 GMT

@TrapLine wrote:
@CreditCuriosity wrote:
@pizzadude wrote:
At least they're making the prosecution's job easy. Posting a public video of yourself confessing to a felony should make these slam dunk cases.
Also the ATM cameras and of course the account and bad check. Only sad thing is as tax payers gotta pay for their jail time.
A good solution ... put them to work on the old "work farm concept and pay their way"!

Agree although society is too nice these days everyone that is serving time should have to do labor to not be a burdon to tax payers

Re: Latest TikTok challenge gone wrong

Zeiram — Thu, 05 Sep 2024 05:35:27 GMT

@JoeRockhead wrote:
People taking advantage of a temporary glitch depositing fraudulent checks then withdrawing money they know doesn't belong to them... Play stupid games, win stupid prizes.

https://www.yahoo.com/news/chase-warns-against-using-system-201331004.html

“We are aware of this incident, and it has been addressed,” Chase commented in a statement. “Regardless of what you see online, depositing a fraudulent check and withdrawing the funds from your account is fraud, plain and simple.”

"The number of Chase customers who tried to do this is not immediately known".

"One video posted on social media shows purported participants shouting with joy and throwing cash in the air. Other videos, however, show purported participants then later upset after seeing huge negative balances on their bank accounts once the bad checks had finally bounced yet their withdrawals of cash were still accounted for".

Reminds me of a guy I used to work with named Willie who got out of the state prison and then decided that having to take care of his girlfriend and all the kids he made with her was worse than prison.

He was talking at work about going to a certain type of bar and spending a bunch of money, and I asked how he could afford to do that "with what this place pays", and he admitted he'd been going to banks and putting empty envelopes in and saying it was a deposit and taking the money out, and going to payday loan stores.

I said, "Aren't you going to get in trouble for that?" and he said he knew he would, and sure enough they revoked his parole and sent him back. Eventually, I think, life gets so bad that some give up.

But that may not be what we're dealing with here. People today are just a lot dumber than they used to be. They might honestly be surprised that something like this they saw on TikTok wasn't a "life hack".

Re: Latest TikTok challenge gone wrong

Anonymous — Thu, 05 Sep 2024 14:30:27 GMT

@markbeiser wrote:
We are too far down the Idiocracy time line to turn back...it is inevitable.

Sure seems to be sad times indeed.

I can't comprend how anyone could watch a video like that and not know better, or even make a video like that in the first place.

The law in my state.

Uttering or publishing

(1) A person who utters and publishes as true a false, forged, altered, or counterfeit deed or other document listed in section 248b knowing it to be false, forged, altered, or counterfeit with intent to injure or defraud is guilty of a felony punishable by imprisonment for not more than 14 years.

Re: Latest TikTok challenge gone wrong

Zeiram — Thu, 05 Sep 2024 23:25:31 GMT

@CreditCuriosity wrote:
Agree although society is too nice these days everyone that is serving time should have to do labor to not be a burdon to tax payers

The state law where I'm at says they should all be doing something useful for the State.

It seems to just be warehousing people though. The parole board is very activist and has set loose some very bad people and declared them rehabilitated. We have people whose crimes are unspeakable who never report to parole. It's very much not a stole a loaf of bread 20 years ago story. These are the worst of the worst.

Our system doesn't know how to rehabilitate people or even if that's what it wants to do. We incarcerate more of our own adult population than many autocratic nations with some very extreme laws, but it seems nothing can improve.

I think in this environment people know that stealing some money out of an ATM will not be high on the list and they probably never even see the inside of a jail cell.

Re: Latest TikTok challenge gone wrong

Zeiram — Thu, 05 Sep 2024 23:34:14 GMT

@Anonymous wrote:

The law in my state.

Uttering or publishing
(1) A person who utters and publishes as true a false, forged, altered, or counterfeit deed or other document listed in section 248b knowing it to be false, forged, altered, or counterfeit with intent to injure or defraud is guilty of a felony punishable by imprisonment for not more than 14 years.

That might be to protect from Sovereign Citizens filing false liens, false bankruptcy paperwork, etc. to harass a victim. The sad thing is that it often works, especially if they know the victim's personal information, because the credit reporting system just looks at what's been filed on PACER, and if a bankruptcy hits that looks like the victim filed, then that's on their credit reports a day later.

In my state there is a law that makes that a felony, but wouldn't you know it, it's only a felony to do this to a judge or a politician.

"Sec. 248b. (1) A person who falsely makes, alters, forges, or counterfeits a deed, a discharge of mortgage,
or a power or letter of attorney or other document that affects an interest in real property with intent to injure
or defraud another person is guilty of a felony punishable by imprisonment for not more than 14 years."

"or other document that affects an interest in real property"

Yeah, that would include a bankruptcy schedule. It's nice to know that at least Michigan protects EVERYONE from these nuts, including regular citizens.

I think Michigan probably has this law because it has a lot of those types of people running around, like the plot to kidnap the governor and blow up bridges. I read the news articles and sort of chuckled, like "Who came up with this? Bane from that Batman movie?"

Re: Latest TikTok challenge gone wrong

Anonymous — Fri, 06 Sep 2024 00:07:59 GMT

@Zeiram wrote:
@Anonymous wrote:

The law in my state.

Uttering or publishing
(1) A person who utters and publishes as true a false, forged, altered, or counterfeit deed or other document listed in section 248b knowing it to be false, forged, altered, or counterfeit with intent to injure or defraud is guilty of a felony punishable by imprisonment for not more than 14 years.

That might be to protect from Sovereign Citizens filing false liens, false bankruptcy paperwork, etc. to harass a victim. The sad thing is that it often works, especially if they know the victim's personal information, because the credit reporting system just looks at what's been filed on PACER, and if a bankruptcy hits that looks like the victim filed, then that's on their credit reports a day later.

I am sure that Uttering or publishing could cover those mentioned things. Fraudulent checks here fall under that law as well.

Re: Latest TikTok challenge gone wrong

pizzadude — Tue, 29 Oct 2024 19:46:56 GMT

JPMorgan has begun legal proceedings against customers who allegedly stole hundreds of thousands of dollars during a technical malfunction in the bank's ATM systems.

The so-called "infinite money glitch" allowed customers to deposit counterfeit checks and then withdraw the cash before the check bounced.

https://finance.yahoo.com/news/jpmorgan-suing-customers-cashed-bank-104533008.html

Re: Latest TikTok challenge gone wrong

JoeRockhead — Wed, 30 Oct 2024 13:54:37 GMT

@pizzadude wrote:
JPMorgan has begun legal proceedings against customers who allegedly stole hundreds of thousands of dollars during a technical malfunction in the bank's ATM systems.

The so-called "infinite money glitch" allowed customers to deposit counterfeit checks and then withdraw the cash before the check bounced.

https://finance.yahoo.com/news/jpmorgan-suing-customers-cashed-bank-104533008.html

One case alone cited that an accomplice deposited a fake check for $335k, then the accused individual withdrew $280k. The level of absolute idiocy is completely off the charts here. A whole new meaning to the phrase, go big or go home.

Re: Latest TikTok challenge gone wrong

IsambardPrince — Tue, 12 Nov 2024 20:55:29 GMT

@JoeRockhead wrote:
@pizzadude wrote:
JPMorgan has begun legal proceedings against customers who allegedly stole hundreds of thousands of dollars during a technical malfunction in the bank's ATM systems.

The so-called "infinite money glitch" allowed customers to deposit counterfeit checks and then withdraw the cash before the check bounced.

https://finance.yahoo.com/news/jpmorgan-suing-customers-cashed-bank-104533008.html
One case alone cited that an accomplice deposited a fake check for $335k, then the accused individual withdrew $280k. The level of absolute idiocy is completely off the charts here. A whole new meaning to the phrase, go big or go home.

I came across an article today where a little girl made $2100 for raising chickens or something, and when her mother deposited the check, Chase Bank froze the account for over a year and wouldn't even let her mother have her own money, much less the check, and then when the news got involved, Chase somehow "fixed it" so they could have the money.

Chase claimed the whole incident started because they tried "verifying the check" with a phone number printed on the check that was disconnected, and so they froze the account without warning.

But hey, at least Chase has lots of fees and 0.01% APY on deposits.

https://www.youtube.com/watch?v=1oF2z6xk51I

Re: Latest TikTok challenge gone wrong

coldfusion — Tue, 12 Nov 2024 23:13:51 GMT

@IsambardPrince wrote:
@JoeRockhead wrote:
@pizzadude wrote:
JPMorgan has begun legal proceedings against customers who allegedly stole hundreds of thousands of dollars during a technical malfunction in the bank's ATM systems.

The so-called "infinite money glitch" allowed customers to deposit counterfeit checks and then withdraw the cash before the check bounced.

https://finance.yahoo.com/news/jpmorgan-suing-customers-cashed-bank-104533008.html
One case alone cited that an accomplice deposited a fake check for $335k, then the accused individual withdrew $280k. The level of absolute idiocy is completely off the charts here. A whole new meaning to the phrase, go big or go home.
I came across an article today where a little girl made $2100 for raising chickens or something, and when her mother deposited the check, Chase Bank froze the account for over a year and wouldn't even let her mother have her own money, much less the check, and then when the news got involved, Chase somehow "fixed it" so they could have the money.

Chase claimed the whole incident started because they tried "verifying the check" with a phone number printed on the check that was disconnected, and so they froze the account without warning.

But hey, at least Chase has lots of fees and 0.01% APY on deposits.

https://www.youtube.com/watch?v=1oF2z6xk51I

Stay on topic please.

Re: Latest TikTok challenge gone wrong

IsambardPrince — Wed, 13 Nov 2024 01:21:56 GMT

@coldfusion wrote:
@IsambardPrince wrote:
@JoeRockhead wrote:
@pizzadude wrote:
JPMorgan has begun legal proceedings against customers who allegedly stole hundreds of thousands of dollars during a technical malfunction in the bank's ATM systems.

The so-called "infinite money glitch" allowed customers to deposit counterfeit checks and then withdraw the cash before the check bounced.

https://finance.yahoo.com/news/jpmorgan-suing-customers-cashed-bank-104533008.html
One case alone cited that an accomplice deposited a fake check for $335k, then the accused individual withdrew $280k. The level of absolute idiocy is completely off the charts here. A whole new meaning to the phrase, go big or go home.
I came across an article today where a little girl made $2100 for raising chickens or something, and when her mother deposited the check, Chase Bank froze the account for over a year and wouldn't even let her mother have her own money, much less the check, and then when the news got involved, Chase somehow "fixed it" so they could have the money.

Chase claimed the whole incident started because they tried "verifying the check" with a phone number printed on the check that was disconnected, and so they froze the account without warning.

But hey, at least Chase has lots of fees and 0.01% APY on deposits.

https://www.youtube.com/watch?v=1oF2z6xk51I
Stay on topic please.

I was amused that Chase is too incompetent to make sure there's really $300,000 to fund that check with so they let the guy take it, and then they freeze an account over a little girl trying to deposit a check she got at the county fair.

These big banks are horrible, they're incompetent. They shoot first and ask questions later, and then you find out that things like the "Unlimited Money" thing happened because they're not even holding the funds like they're supposed to.

At least my online bank will just hold the funds until the check clears if there's any questions about whether it'll clear or not. Chase freezes an account? For a year? When the customer didn't do anything wrong?

Then you have these people on TikTok depositing obviously fake checks for suspiciously large amounts and then throwing money in the air outside a Chase bank branch.

What happens to the customer who didn't do anything wrong? Just deposited a small check (which was real!). You get a train wreck of unpaid bills that were supposed to come out of that account and can't. You have to change your direct deposits and in the mean time watch more money go into an account Chase froze and won't talk to you about until the news starts asking questions?

So how does something like this even happen? Either the ACH system sends the money or the check doesn't go through. I had my bank tell me they would sit on a check (for $5.64 of all things) for 5 days once due to "information about the payer", but when the ACH came through they gave me the $5.64 and the only thing that happened until then was that $5.64 wasn't available.

I've got to say that Chase Bank isn't impressing me, in fact, just from what gets reported in the news I'd say I wouldn't ever bank there.