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Kiting

Meaning: 

Kiting refers to a fraudulent practice where an individual uses non-existent bank funds by taking advantage of the time gap between cheque deposits and their clearance.

Importance:

Kiting is crucial in financial audits and fraud detection, helping to identify dishonest activities.

How to understand Kiting :

Kiting is illegal and can lead to serious consequences for those involved.
It exploits the banking system and can create financial chaos.


Types of Kiting:  

Cheque Kiting:
Involves writing cheques from one account to another without sufficient

Credit Card Kiting:
Using credit cards to take advantage of payment processing times.

Stock Kiting:

A rare form involving the manipulation of stock transactions.

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