A scam method that spread on TikTok caused JP Morgan to lose more than $660,000.

◻️US investment bank JP Morgan lost more than $660,000 in a scam method that spread rapidly on TikTok.

◼️Some customers who took advantage of a security vulnerability in the system had their checks transferred to their accounts without being approved and withdrew this money from ATMs.

◻️The bank temporarily stopped accepting checks after the method spread on social media. Bank officials identified the fraudulent accounts and initiated legal proceedings.