MLchartDataset catalogue

Check-kiting

Term · Law · MLC-T-LAW-000958

A fraudulent scheme involving the exploitation of the time delay in the banking system to transfer funds between accounts at different banks. An individual writes a check from an account with insufficient funds and deposits it into another account, then writes a check from the second account before the first check clears. This creates a temporary, artificial balance, which is a federal offense under statutes prohibiting bank fraud.

Table 1. Record
IdentifierMLC-T-LAW-000958
FieldLaw
Record as JSON 
{
  "id": "MLC-T-LAW-000958",
  "term": "Check-kiting",
  "field": "Law",
  "definition": "A fraudulent scheme involving the exploitation of the time delay in the banking system to transfer funds between accounts at different banks. An individual writes a check from an account with insufficient funds and deposits it into another account, then writes a check from the second account before the first check clears. This creates a temporary, artificial balance, which is a federal offense under statutes prohibiting bank fraud.",
  "url": "https://mlchart.com/terminology/law/check-kiting/"
}

Record 779 of 5,441 in Law terminology (MLC-0107). Request the full dataset.