JPMorgan Chase On A Chase

This Week In Blunders – April 13-19

“OK, boys; let's go make a withdrawal.” – John Dillinger

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JPMorgan Chase is still chasing more than a thousand check-kiting customers who learned how to swindle the world’s largest bank watching TikTok videos last summer.

The bank is now turning to state courts, suing customers who stole less than $75,000, CNBC reports. It was already going after bigger thieves in federal courts who pilfered much larger amounts. And it has sent more than 1,000 letters asking hot check writers to return their easy loot.

Criminal charges are likely to follow.

The bank won’t say how much was stolen in the online viral sensation dubbed the “Infinite Money Glitch.” But the fact remains that its bankers left the vault door wide open on this debacle.

Money for nothing, checks for free. (Illustration: AI generated.)

These are not the world’s smartest people when it comes to fraud. In 2021, some JPMorgan Chumps essentially bought a fake email list from a 20-something swindler for $175 million. They might as well be wiring money to Nigerian royalty.

In August, viral videos on TikTok and X explained how you could deposit fake checks at JPMorgan Chase for tens of thousands of dollars and get most of the cash out before the bank’s dupes could figure out the checks were hot.