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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
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:
https://www.britannica.com/topic/check-kiting
Check kiting, fraud committed against a banking institution in which access is gained to deposited funds in one account before they can be collected from another account upon which they are drawn. The scheme usually involves several checking accounts at several different banks.In effect, a bank deposits accessible money into an account while waiting for cash to be processed from an account at ...
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 ...
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.
https://www.bankrate.com/banking/checking/anatomy-of-check-kiting-fraud/
Check kiting requires at least two accounts, and very often involves two or even three banks. The money rotates in a complete circular fashion between accounts. Hicks says a kite can take down a ...
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.
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 ...
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