Glossary

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There are 1 names in this directory beginning with the letter K.
K
Kiting:1. The act of fraudulently misstating the accounts of an organization by showing the same amount on deposit simultaneously in two of its bank accounts, made possible by exploiting the time required for a cheque to clear through the banking system. This can be accomplished by depositing in one bank account a cheque drawn on another and recording in the books of account only the deposit on the day of the transfer. 2. Broadly, any act which takes advantage of the time required for a cheque to clear through the banking system.