Kiting Banking Definition

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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:

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 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 ...

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.

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.

Anatomy of Check-Kiting Fraud Bankrate.com

    https://www.bankrate.com/banking/checking/anatomy-of-check-kiting-fraud/
    “Other fraud is like a thunderstorm; kiting is a tornado,” says Sydney Hicks of Sterling Commerce banking systems division. How check kiting works. Here’s how it works. Suppose you have $10 ...

How Banks Used to Spot Check Kiting American Banker

    https://www.americanbanker.com/opinion/how-banks-used-to-spot-check-kiting
    May 24, 2013 · As a matter of fact, check kiting, the practice of utilizing the time it takes for a check to clear as a form of interest-free credit, is illegal. Before the introduction of electronic transfers in banking operations, checks were physically moved among banks.

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