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Kiting

Meaning: 

Kiting is when someone tricks the bank by using money that isn’t really there. They do this by writing cheques from one account to another, hoping to take advantage of the time it takes for the bank to process the cheques.


Importance:

Kiting is important to know about during financial audits because it helps detect fraud.
Understanding kiting can help prevent dishonest practices.


How to understand Kiting:

It is a way to misuse banking systems, and it is illegal.
Kiting can cause big problems for banks and people who are honest.


Uses in Finance:   

Kiting is looked at during bank fraud investigations and is a red flag in audits.







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