Definition Of Kiting In Banks

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Kiting financial definition of 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.

Kiting Definition - Investopedia
    May 07, 2019 · Kiting Check Kiting Involving Banks. Carried out within the banking system, kiting typically involves passing a series of... Retail Kiting. This relies on cashing a bad check (number one) at a retailer to purchase an item. Then, before that... Kiting With Securities. Kiting that involves ...

Check kiting Definition
    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 Definition & Example InvestingAnswers
    Jun 06, 2019 · Kiting is the illegal practice of exploiting settlement delays to transfer unavailable funds from one bank account to another. In the brokerage industry, kiting occurs when a securities firm fails to settle buy and sell orders by the proper settlement deadline.

What is Kiting? - Definition Meaning Example
    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 Does Kiting Mean? The concept of kiting is quite simple.

Kiting Wex US Law LII / Legal Information Institute
    Definition A crime involving writing a check on an account, Account A, with insufficient funds and depositing it in another account, Account B, and then writing a check on Account B and depositing it in Account A to cover the first check written on Account A. Kiting takes advantage of the time it takes banks to clear checks.

Check Kiting, Float for Purposes of Profit Bankers Online
    The Federal Bureau of Investigation defines check kiting as "a scheme which artificially inflates bank account balances, in accounts that are under common control, for purposes of obtaining unauthorized use of bank funds, through the systematic exchanging or swapping of checks between these accounts, in a manner which is designed to misuse the float that exists in the banking system."

Anatomy of Check-Kiting Fraud
    Kiting isn’t the most popular type of deposit fraud. In fact, it happens with far less frequency than typical deposit fraud, but it can be far more devastating to the bank. “Other fraud is like a...

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