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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:
What is Check Kiting and How to Avoid Being Scammed ...
- https://www.depositaccounts.com/blog/check-kiting.html
- Why check kiting works: Float time If banks could communicate instantaneously and seamlessly process checks drawn from accounts at other institutions, check kiting wouldn’t exist. The whole scam lives in the float, or the gap between when a check is deposited by a customer and when the money from the check writer's account is actually ...
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 POTENTIAL LOSSES OF MILLIONS IN CHECK KITING ...
- https://www.wccsradio.com/2020/05/27/st-reports-potential-losses-of-millions-in-check-kiting-scheme/
- May 27, 2020 · S&T says the customer, which it does not name in the filing, used a “check kiting” scheme which resulted in returned deposits totaling about $59 million. Check kiting relies on a bank taking several days to determine that a check was written on insufficient funds, while the customer has access to the funds the next business day.
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