Define Kiting Scheme

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Kiting Definition - Investopedia

    https://www.investopedia.com/terms/k/kited.asp
    May 07, 2019 · Kiting is the fraudulent use of a financial instrument such as a check to obtain additional credit that is not authorized. There are two variants of kiting:

What is Kiting? - Definition Meaning Example

    https://www.myaccountingcourse.com/accounting-dictionary/kiting
    Definition: Kiting, also called check kiting, is a fraudulent scheme that uses checks to embezzle money from a business. Kiting is usually committed by a bookkeeper or someone else with access to company checks and the ability to forge checks, but it can also be used by the company.

What is check kiting? definition and meaning ...

    http://www.businessdictionary.com/definition/check-kiting.html
    check kiting: Fraudulent scheme in which checks are issued against funds that a bank has credited into an account for deposited but uncleared checks (see check clearing). In effect, it is like an interest free and unauthorized loan which, with careful timing of deposits and withdrawals, can be turned into a large sum. It differs from 'playing ...

Check kiting Definition Bankrate.com

    https://www.bankrate.com/glossary/c/check-kiting/
    Check kiting is the illegal process of writing a check off of a bank account with inadequate funds to cover that check. Check kiting relies on the fact that it takes banks a few days (or even ...

Kiting financial definition of Kiting

    https://financial-dictionary.thefreedictionary.com/Kiting
    Kiting Used in banking to refer to the practice of depositing and drawing checks at two or more banks and taking advantage of the time it takes for the second bank to collect funds from the first bank. Also refers to illegally increasing the face value of a check by changing the numbers on the check. In the context of securities, refers to the ...

Check kiting definition — AccountingTools

    https://www.accountingtools.com/articles/check-kiting.html
    Check kiting is the deliberate issuance of a check for which there is not sufficient cash to pay the stated amount. The mechanics of this fraud scheme are as follows:. Write a check for which there is not sufficient cash in the payer's account.. Create a checking account at a different bank.. Deposit the fraudulent check in the checking account that was just opened.

Lapping Scheme Definition

    https://www.investopedia.com/terms/l/lappingscheme.asp
    Feb 03, 2020 · A lapping scheme is a form of accounting fraud whereby stolen or misappropriated cash is obscured by altering the accounts receivable. A forensic accounting audit of cash receipts can be ...

Anatomy of Check-Kiting Fraud Bankrate.com

    https://www.bankrate.com/banking/checking/anatomy-of-check-kiting-fraud/
    There’s never anything accidental about a kiting scheme, says Robert Young, loss prevention manager at Regions Bank in Birmingham, Ala. “There’s too much manipulation of the float and timing.

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