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• JPMorgan Chase

• Meta

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Economy & Finance

JPMorgan Chase

JPMorgan Chase has initiated legal action against several customers who allegedly exploited a technical glitch to commit check fraud. This glitch, which gained attention on TikTok in late August, allowed customers to deposit large checks at ATMs and withdraw funds immediately—even before the checks cleared. However, when these checks were later identified as fraudulent, the bank sought to recover the lost amounts. Four lawsuits were filed, targeting two individuals and two businesses who reportedly retained over $661,000 in total, with one Houston man allegedly withdrawing nearly $291,000. JPMorgan is working with law enforcement to address these cases and reinforce banking security, noting that check fraud poses significant risks to public trust.

Technology

Meta

Meta Platforms is developing its own AI-powered search engine to reduce its reliance on Google and Bing, aiming to offer users conversational responses on current events through Meta AI, its chatbot across WhatsApp, Instagram, and Facebook. This move positions Meta alongside OpenAI, Google, and Microsoft in the competitive AI search space, where each company is enhancing conversational capabilities. Meta currently uses Google and Bing for real-time information on news, stocks, and sports, but this new search engine could lessen that dependence. Copyright concerns remain, especially as Meta integrates real-time responses using Reuters content.

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