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LSDefine

Simple English definitions for legal terms

kiting

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A quick definition of kiting:

Term: Kiting

Definition: Kiting is when someone writes a check from one bank account, even though they don't have enough money in that account to cover the check. Then, they deposit that check into another account, which makes it look like they have more money than they really do. This is illegal because it's like borrowing money that you don't have and not paying it back. Banks try to stop kiting by making people wait before they can use the money from a deposited check. If someone keeps kiting, they could be charged with a crime called bank fraud.

A more thorough explanation:

Kiting, also known as check-kiting, is a fraudulent practice where a person covers a bad check from one bank account to another. This is done by depositing a check from one account into another account, even though there are insufficient funds in the first account to cover the check. The deposited check increases the available funds in the second account, which can then be used to cover the bad check in the first account.

For example, let's say John has two bank accounts, Account A and Account B. John writes a check for $500 from Account A, even though there are only $100 in the account. He then deposits the $500 check into Account B, which now has a balance of $500. John can then use the $500 in Account B to cover the bad check in Account A.

Kiting is illegal and can result in criminal charges. To prevent kiting, many financial institutions have a waiting period before checks are deposited.

In the United States, kiting can violate the federal bank fraud statute if the victim is a federally insured financial institution. This means that if someone kites a check at a bank that is insured by the federal government, they could face federal charges.

kiter | Kleindienst v. Mandel

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got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
WorthlessAttractiveZombie
7:44
My berkeley paragraph finally disappeared. I definitely think it is just an indicator that they are actively reviewing files, and does not mean anything about A, WL, or Rs
WorthlessAttractiveZombie
7:46
Also has anyone's date disappeared for W&L? Mine did last night
7:55
@WorthlessAttractiveZombie: mine did yesterday morning
7:56
Oops sorry I meant Vilanova. Mine disappeared last week
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