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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:
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.
Check kiting fraud Britannica
- 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 ...
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.
Jury Convicts CEO in $1 Billion Check Kiting Scheme ...
- https://www.lexisnexis.com/LegalNewsRoom/financial-fraud-law/b/blog/posts/jury-convicts-ceo-in-1-billion-check-kiting-scheme
- When sentenced by Judge Vitaliano, Faibish faces a sentence of up to 30 years’ imprisonment for bank fraud and securities fraud conspiracy as a result of the check kiting scheme. The government’s case is being prosecuted by Assistant United States Attorneys Sylvia S. Shweder and Jack Dennehy. Contact the author at [email protected].
S&T Bancorp probes check-kiting scheme News tribdem.com
- https://www.tribdem.com/news/s-t-bancorp-probes-check-kiting-scheme/article_62478824-a540-11ea-8999-b790acd8da4d.html
- Jul 25, 2020 · Check-kiting is a type of fraud committed against a banking institution. The scheme generally involves several checking accounts and possibly several different banks.
Anatomy of Check-Kiting Fraud Bankrate.com
- https://www.bankrate.com/banking/checking/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.
S&T reports multi-million-dollar check kiting scheme ...
- https://www.indianagazette.com/news/s-t-reports-multi-million-dollar-check-kiting-scheme/article_c6661d7c-a05c-11ea-b494-3bbb78c04ccb.html
- Jul 25, 2020 · S&T Bancorp Inc. of Indiana and its subsidiary, S&T Bank, told the federal Securities and Exchange Commission that they have become aware of a check kiting scheme conducted by a
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