Kiting

Kiting,

What is The Definition of Kiting?

  • Kite-making is a fraudulent use of financial instruments to obtain unauthorized additional credit. Kite making involves two main types of fraud.

    • Illegal use of financial resources in kite making involves fraudulently obtaining extra credit.
    • Investment firms will work if they violate SECSEC's timely acquisition rules.
    • Banks or retailers are instructed to make check kits that are sometimes created in multiple accounts.

  • Write a check for the amount that is more than the bill, but cover the deficit by writing another check with another bank. For example, if your checking account does not have sufficient funds to complete the check, send a mortgage check, but expect the mortgage company to receive and deposit the check before offering it for payment. Do

  • Write a check with insufficient funds in the bank account and wait for the bank to receive the deposit before it reaches the customs.

Meanings of Kiting

  1. Rope kite flying activity.

  2. Use of forged writing or check, bill or receipt.