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- Check_kiting abstract "Check kiting is a form of check fraud, involving taking advantage of the float to make use of non-existent funds in a checking or other bank account. In this way, instead of being used as a negotiable instrument, checks are misused as a form of unauthorized credit.Kiting is commonly defined as intentionally writing a check for a value greater than the account balance from an account in one bank, then writing a check from another account in another bank, also with non-sufficient funds, with the second check serving to cover the non-existent funds from the first account. The purpose of check kiting is to falsely inflate the balance of a checking account in order to allow written checks that would otherwise bounce rather than clear. If the account is not planned to be replenished, then the fraud is colloquially known as paper hanging. If writing a check with insufficient funds is done with the expectation they will be covered by payday– in effect a payday loan– it is called playing the float.Some forms of check fraud involve the use of a second bank or a third party, often a place of retail, in order to delay the absence of funds in a transactional account on the day the check is due to clear at the bank. Such acts are frequently committed by bankrupt or temporarily unemployed individuals or small businesses seeking emergency loans, by start-up businesses or other struggling businesses seeking interest-free financing while intending to make good on their balances, or by pathological gamblers who have the expectation of depositing funds upon winning. It has also been used by those who have some genuine funds in interest-bearing accounts, but who artificially inflate their balances in order to increase the interest paid by their banks.".
- Check_kiting thumbnail CanadianChequeSample.png?width=300.
- Check_kiting wikiPageID "12282037".
- Check_kiting wikiPageRevisionID "588464148".
- Check_kiting hasPhotoCollection Check_kiting.
- Check_kiting subject Category:Banking.
- Check_kiting subject Category:Fraud.
- Check_kiting subject Category:Non-sufficient_funds.
- Check_kiting type Abstraction100002137.
- Check_kiting type Fund113358549.
- Check_kiting type Measure100033615.
- Check_kiting type MediumOfExchange113372961.
- Check_kiting type Money113384557.
- Check_kiting type Non-sufficientFunds.
- Check_kiting type Standard107260623.
- Check_kiting type SystemOfMeasurement113577171.
- Check_kiting comment "Check kiting is a form of check fraud, involving taking advantage of the float to make use of non-existent funds in a checking or other bank account.".
- Check_kiting label "Check kiting".
- Check_kiting label "Scheckreiterei".
- Check_kiting label "小切手詐欺".
- Check_kiting sameAs Scheckreiterei.
- Check_kiting sameAs 小切手詐欺.
- Check_kiting sameAs m.03sptk.
- Check_kiting sameAs Q2232246.
- Check_kiting sameAs Q2232246.
- Check_kiting sameAs Check_kiting.
- Check_kiting wasDerivedFrom Check_kiting?oldid=588464148.
- Check_kiting depiction CanadianChequeSample.png.
- Check_kiting isPrimaryTopicOf Check_kiting.
