To: Calpernia
Check (or cheque) fraud refers to a category of criminal acts that involve making the unlawful use of one or more check or checking accounts in order to illegally acquire or borrow funds that do not exist within the account balance or account-holder's legal ownership. Most methods that are used by a violator involve taking advantage of the float (the time between the negotiation of the check and its clearance at the check-writer's bank) to draw out these funds. Such acts are often colloquially referred to as check kiting or paper hanging.
116 posted on
10/23/2007 11:12:22 AM PDT by
rednesss
(Fred Thompson - 2008)
To: rednesss
Overdraft and KITE have two different definitions.
118 posted on
10/23/2007 11:20:25 AM PDT by
Calpernia
(Hunters Rangers - Raising the Bar of Integrity http://www.barofintegrity.us)
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson