kiting
kiting definition - business
kiting
- Writing a check for more than the balance in an account in order to take advantage of the lag in time before funds will be collected. For example, you write a check for the rent knowing your account does not have sufficient funds for payment, however, you expect to make a deposit in your account before said check is presented to the bank for payment. Also called check kiting.
- Altering a check by fraudulently increasing the amount of the check.
The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.
Comments
Improve this definition.
Browse dictionary definitions near kiting
Share on Facebook