ATM Fraud and Checks Scams Target Customers

Recent reports highlight a surge in fraudulent activities involving ATMs and check deposits, with two distinct schemes emerging. In Bhubaneswar and Puri, fraudsters have adopted cash-trapping techniques that render ATMs incapable of dispensing money while still debiting customers’ accounts, leading victims to believe their transactions failed. Meanwhile, a viral trend on TikTok has encouraged users to exploit banking rules by depositing fraudulent checks and withdrawing funds before the checks clear, which banks like Chase classify as outright fraud. Chase has warned participants that they will be held accountable, as the bank can trace transactions through ATM cameras. Experts caution that such activities can result in significant debt when banks reclaim improperly withdrawn funds. Both incidents underscore the importance of vigilance in financial transactions as digital fraud tactics evolve.