Journal Article

Features: Fighting Payments Fraud

Abstract: For many people, TikTok has become their go-to source for information on everything from fashion to food to home maintenance. Gone are the days of having to figure it out yourself or "Google it"; influencers now post short videos detailing how to perform any number of supposed "life hacks" meant to make life a little easier or, at the very least, more entertaining. In the past year, one more hack joined the list: check fraud. The hack went viral in the fall of 2024, and it was surprisingly easy: Chase Bank customers wrote checks of significant amounts to themselves, deposited those checks into a Chase ATM, and immediately withdrew as much cash as possible even if they didn't have those funds in their accounts.

Bibliographic Information

Provider: Federal Reserve Bank of Richmond

Part of Series: Econ Focus

Publication Date: 2025-08-12

Volume: 25

Issue: 3Q

Pages: 18-21