Cheque fraud
From The Art and Popular Culture Encyclopedia
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Cheque fraud refers to a category of criminal acts that involve making the unlawful use of cheques in order to illegally acquire or borrow funds that do not exist within the account balance or account-holder's legal ownership. Most methods involve taking advantage of the float (the time between the negotiation of the cheque and its clearance at the cheque-writer's bank) to draw out these funds. Specific kinds of cheque fraud include cheque kiting, where funds are deposited before the end of the float period to cover the fraud, and paper hanging, where the float offers the opportunity to write fraudulent cheques but the account is never replenished.
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See also
- Advance-fee fraud
- Bad Check Restitution Program
- Bank fraud
- ChexSystems
- Federal Bureau of Investigation
- House banking scandal
- Job kiting, named by analogy
- United States Secret Service
- White-collar crime
Unless indicated otherwise, the text in this article is either based on Wikipedia article "Cheque fraud" or another language Wikipedia page thereof used under the terms of the GNU Free Documentation License; or on research by Jahsonic and friends. See Art and Popular Culture's copyright notice.
