A viral “unlimited money” stunt that supposedly exposed JPMorgan Chase’s ATM vulnerability over the summer has led to the bank filing four lawsuits in federal courts, reports FOX Business.
The bank is alleging customers stole tens of thousands of dollars after videos circulating on social media before Labour Day instructed Chase clients to write themselves a large cheque, deposit it via a mobile device, and then withdraw the funds from an ATM before the cheque cleared.
“Fraud is a crime that impacts everyone and undermines trust in the banking system,” Chase spokesperson Drew Pusateri told FOX Business in a statement.
“We’re pursuing these cases and actively cooperating with law enforcement to make sure if someone is committing fraud against Chase and its customers, they’re held accountable.”
In one Southern District of Texas complaint, Chase alleges a masked man deposited a (US)$335,000 cheque into his account at an ATM on Aug. 24.
The bank alleges once the cheque was deposited, the account holder began withdrawing almost all the money but once the cheque was returned, it left a “substantial negative balance.”
Chase alleges the bank is owed about (US)$290,000.
Another case filed in the Central District of California alleges a defendant owes Chase about (US)$91,000 after depositing two separate (US)$50,000 cheques in late August and then withdrawing a large portion of the amount before they bounced.
The other two cases were filed in the Southern District of Florida against two separate businesses that the bank alleges took part in the stunt and owe Chase around (US)$140,000 each.