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Check-kiting Legal Definition Merriam-Webster Law Dictionary
- https://www.merriam-webster.com/legal/check-kiting
- Legal definition of check-kiting: the practice of drawing on uncollected funds during the time needed to clear a check deposited in a bank especially if the check is worthless —called also kiting.
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:
Check kiting Definition Bankrate.com
- https://www.bankrate.com/glossary/c/check-kiting/
- Check kiting relies on the fact that it takes banks a few days (or even longer for international checks) to determine that a check is bad. Deeper definition Federal banking regulations state that ...
Kiting Definition of Kiting at Dictionary.com
- https://www.dictionary.com/browse/kiting
- Kiting definition, kiteflying. See more. Finance.. a check drawn against uncollected or insufficient funds, as for redepositing, with the intention of creating a false balance in the account by taking advantage of the time lapse required for collection.
Kiting Wex US Law LII / Legal Information Institute
- https://www.law.cornell.edu/wex/kiting
- 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. Before the bank in which Account B is held has time to clear 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.
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.
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 ...
What Is Check Kiting? LegalMatch
- https://www.legalmatch.com/law-library/article/what-is-check-kiting.html
- Jun 26, 2018 · Check kiting is a serious crime, and is one of the most strictly enforced types of white collar crimes. Even first time offenders can face stiff penalties, sometimes resulting in fines of greater than $500,000, and jail time of more than 20 years.Author: Ken Lamance
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