Never underestimate the stupidity of people.

Mike403Mike403
edited September 2024 in General

For a short time, there was a glitch at Chase Bank ATMs allowing people to deposit bad checks then withdraw the money before the check clears. There were lines that wrapped around the block to commit check fraud. It happened after a viral Tik Tok video showing people taking as much as $50,000 from those machines (more evidence to give to the police). They called it "Infinite Money Glitch"

That goes to show that people can be so dumb. Checking accounts are linked to your personal info. That's like robbing the bank then giving them your ID so they know where to find you.

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Comments

  • [Deleted User]Zeusbuddy (deleted user)

    I have heard of police departments that send letters to all the locals with outstanding warrants saying they have won an impounded car. When they show up at the police impound lot to pick up their car, they are arrested!

  • [Deleted User]gem7 (deleted user)

    @Mike403 And they are on camera. Stupid is probably not a strong enough word for these kind of people.

  • TxTomTxTom

    A long time ago there used to be a lot fewer stupid people because Nature would do her whole Darwinism thing.

  • AmazingEmbraceAmazingEmbrace

    You guys are right and not to mention the government giving out PPP loans and how many people took advantage of it and later charged.

  • SunsetSnugglesSunsetSnuggles

    ~ Sunset Snuggles

    🫂 Enthusiast 🌄 Travel Junkie 📸 Shutter Bug

  • TheFunCartelTheFunCartel

    not to mention the government giving out PPP loans and how many people took advantage of it and later charged.

    Over 96% of all PPP loans were forgiven so no real need to hide much unless you had a company that didn’t exist.

  • TxTomTxTom
    edited September 2024

    It's never a good idea to shut down a market-based economy. Paying people to stay home and not work wreaks havoc and is incredibly expensive for everyone.

    Lesson learned... hopefully.

    Tagged as political, noted by moderator, left intact because this is an economic, not a political point of view. [JoyfulHeart]

  • AmazingEmbraceAmazingEmbrace

    @TheFunCartel, that’s what I meant, the fraudulent claims. Many had instant karma.

  • MonkeyNeedsAHugMonkeyNeedsAHug
    edited September 2024

    Come on, Tom.

    That’s an absolute statement, which is almost certainly false. It’s also a political opinion, which you know is not welcome here.

    Are your politics so ingrained that you don’t see yourself spouting them? Give it a rest, please.

    Tagged as political. If you are going to flag someone's post as political, remember that a direct disagreement of their post will also be political, and will also get flagged. Leaving intact.[JoyfulHeart]

  • TxTomTxTom
    edited September 2024

    poly-: many.
    tick: blood-sucking insect.

  • JoyfulHeartJoyfulHeart

    I'm leaving this open for now, but if a fire breaks out, I'm locking it.

  • KuddlyKoalaKuddlyKoala

    I don't believe it's stupidity. There's a lack of education when it comes to both financial institutions and the law within the newer generations. Some people haven't learned, due to lack of education and 2nd hand experiences, that the Internet isn't just full of jokey jokes and harmless pranks. "Common" sense isn't so common because people aren't taught it.

    All I'm saying is that you can't blame a sick patient for not prescribing themselves the right medication.

  • Carrie_AnneCarrie_Anne

    Making sweeping generalities about anything doesn’t help.
    Each has their own point of view - influenced by their own life experiences and the opportunities they had, the choices they were able to make given their own circumstances.

    And there’s always someone smarter, more successful, more intelligent, better educated & with more opportunities than each of us - than even the all inclusive “you”.

  • Mike403Mike403

    It doesn't take an education to know that stealing is wrong. These people are going to jail and will be charged with felonies rightfully so.

  • Carrie_AnneCarrie_Anne

    @Mike403
    Yes, makes sense and I wasn’t referring to that Bank incident.
    Didn’t even know about it.
    There are people making horrible choices & doing ridiculous things all day long. I barely pay attention. Naturally consequences.

  • KuddlyKoalaKuddlyKoala

    I'm saying a lot of people just don't understand how money works. "Check fraud" isn't a frequently taught concept.

    You can't just say that everyone knows it's stealing because it's not a straightforward concept. Banks are seen as mythical entities to people who weren't educated. It's like a toddler picking up a candy bar and walking out of a store. The concept that the candy bar belongs to the store isn't something a child just inherently knows. People need to be educated on financial institutions and how they actually work.

  • [Deleted User]gem7 (deleted user)

    So we have to teach people not to deposit bad checks and take the money. Amazing!!

  • IronicMaidenIronicMaiden

    In fairness, if corporations can do it, why can't people?

  • Carrie_AnneCarrie_Anne

    lol @IronLemon
    That’s a thought.

  • Ironman294Ironman294

    ATMs not inside a bank usually have a limit per day or 800-1000 a day. ATMs inside a bank branch while open can go a bit higher. People were writing checks for 10k or so. But not the entire 10k was made available. Usually up to 1,000 right away and the rest in a day or two. Whenever I deposit a check for 1 or 2k. They make 500 available right away, but yes people were committing check fraud, lol

  • Mike403Mike403

    @Ironman294 - That's the way it's supposed to work, but there was a glitch that allowed people to withdraw large sums of money.

  • [Deleted User]gem7 (deleted user)

    There is no question that the people involved were stealing. Trying to compare them to a child taking a candy bar is laughable. These were adults. Mike is right " Never under estimate the stupidity of people".

  • JohnR1972JohnR1972

    In fairness, if corporations can do it, why can't people?

    Source? I have never heard of a corporation writing bad checks to themselves and cashing and depositing them in an ATM to steal money.

  • IronicMaidenIronicMaiden

    Source? I have never heard of a corporation writing bad checks to themselves and cashing and depositing them in an ATM to steal money.

    Writing bad checks, yes, but check kiting at levels too great to use an ATM. Millions instead of hundreds. But don't worry. That type of corporate fraud rarely has consequences.

  • ReltvlyCanshesReltvlyCanshes

    Guys they called it a glitch, it wasn't it was just policy, probably bad policy in this case but for most people it's just fine. Also while those folks were acting stupidly, a lot of them were desperate or misled. They didn't come to this idea on their own they ere led there by someone taking advantage. The practice also came from people who got away with it, most likely someone you look at as smart and savvy.... This is a glaring example of how financially institutions operate on a day today, the difference is they have the money to make it up when caught. But oh well.

  • JohnR1972JohnR1972

    That type of corporate fraud rarely has consequences.

    Well, we MAY finally agree on something. I think Sam Bankman-Fried should have gotten life without parole for stealing billions from investors in his $FTX Ponzi scheme. He was sentenced to 25 years which means he will probably be out in 5 or 6 years.

  • [Deleted User]gem7 (deleted user)

    There was Bernie Madoff and his Ponzi scheme of over $65 bilion. I believe it actually resulted in about $19 billion in direct losses with about $15 billion being recovered. He did go to prison along with his brother.

  • TeddyCuddle45TeddyCuddle45

    I just recently heard about this chase "glitch" and I seriously can't believe how stupid people are, cheque fraud is one of if the oldest scams out there. I like to think there are multiple reasons leading to this, a failing education system, single parent home, letting social media parent your kids, well obviously social media in general. I can understand being desperate enough to do anything for money, but when there is literally nothing wrong with you all you have to do is work, come on. Everyone is addicted to instant gratification, probably design, social media is a powerful tool, and they know how to use it. Oh well

  • IronicMaidenIronicMaiden

    Well, we MAY finally agree on something.

    Perhaps, but you've shifted from corporate check fraud to people blatantly stealing other people's money.

    As for why, if you can imagine working a full-time minimum wage job (which nowhere in the US is that a living wage), usually for a crappy boss, you can understand why people would do that, no matter how able-bodied they are or how many parents they had.

  • TheFunCartelTheFunCartel

    In situations like this

    Those with means sue the bank for lack of institutional controls or security.

    Those in dire straits grab the money while it’s there.

    Just a matter of the cards you were dealt.

    On second thought, those in dire straits would obviously go for money for nothing.

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