noun a fraudulent scheme in which a person writes a cheque from one bank account with insufficient funds, deposits it into another account, then withdraws the funds before the cheque clears
In the finance industry, cheque kiting is a form of check fraud that can result in significant financial losses for banks and financial institutions.
Cheque kiting is illegal and can lead to criminal charges for those involved in the scheme.
Accountants need to be aware of cheque kiting schemes to detect any irregularities in financial transactions.
Cheque kiting is a fraudulent scheme where a person writes a cheque from one bank account with insufficient funds, deposits it into another account, and withdraws funds before the cheque clears.
Risk managers need to implement controls to prevent cheque kiting and other forms of fraud within financial institutions.
Cheque kiting can be used as a plot device in a mystery novel, where a character engages in cheque kiting to commit fraud or deceive another character.
Cheque kiting may be used as a case study in a psychology class to illustrate unethical behavior and the consequences of financial fraud.
In the field of accounting, cheque kiting is studied as a form of financial fraud and accountants may be responsible for detecting and preventing cheque kiting schemes.
Bankers are often tasked with identifying and investigating instances of cheque kiting to protect the financial interests of the bank and its customers.
Lawyers may be involved in cases related to cheque kiting, either representing clients accused of cheque kiting or helping victims of cheque kiting seek legal recourse.