check kiting
Definition
Fraudulent scheme in which checks are issued against funds that a bank has credited into an account for deposited but uncleared checks (see check clearing). In effect, it is like an interest free and unauthorized loan which, with careful timing of deposits and withdrawals, can be turned into a large sum. It differs from 'playing float,' because in reality no funds exist.
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check kiting is in the Accounting & Auditing and Banking, Commerce & Finance subjects.
check kiting appears in the definition of the following term: kiting
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