Meaning of CHECK KITING in English
- CHECK KITING
Occurs when a depositor with accounts at two or more banks draws checks against the uncollected balance at one bank to take advantage of the float-that is, the time required for the bank of deposit to collect from the paying bank; and the depositor initiates the transaction with the knowledge that sufficient collected funds will not be available to support the amount of the checks drawn on all of the accounts.
UNODC Money-Laundering terms English dictionary. Английский словарь терминов управления ООН по отмыванию денег, преступности и наркотикам. 2012