Kiting and Cross-firing
Spanish translation: alteración fraudulenta de cheques/transacción circular
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| 16:51 Apr 24, 2008 |
| English to Spanish translations [PRO] Law/Patents - Insurance | |||||||
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|  Selected response from: Maria Elena Martinez Netherlands Local time: 21:04 | ||||||
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Answers
21 mins confidence: 
| kiting and cross-firing circulación de cheques sin fondos o girar cheques sin fondos Explanation: Suerte |
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22 mins confidence:
| kiting and cross-firing alteración fraudulenta de cheques/transacción circular Explanation: cross-firing Definition A type of fraudulent trading in which a company plays lending institutions against each other. For example, a company may send payment checks between its different divisions in order to create the appearance of a healthy, profitable company. Auditors may not readily realize that the company is not making money, which in turn leads creditors to believe that the company is still solvent. See also wrongful trading. Also called check kiting. • kiting navegación con cometa | alteración fraudulenta de cheques check kiting Definition Fraudulent scheme in which checks are issued against funds that a bank has credited into an account for deposited but uncleared checks (see check clearing). In effect, it is like an interest free and unauthorized loan which, with careful timing of deposits and withdrawals, can be turned into a large sum. It differs from 'playing float,' because in reality no funds exist. * Kiting and Cross-Firing Kiting and cross-firing is a situation whereby a person having an account at both bank A and bank B, draws a cheque on bank A account and pays it into bank B account. On the day before the cheque is presented for payment, a cheque on bank B account is drawn to meet the cheque on the first account, thereby a credit balance is shown on both accounts, although there are in fact, uncleared balances. This practice if allowed to continue, could mean an increase in the uncleared balances. Formato de archivo: PDF/Adobe Acrobat - Versión en HTML [1] Cheque ‘kiting’ or ‘cross-firing’ (also known as ‘round-tripping’). takes place when customers of one or more banks draw ... www.supremecourtofappeal.gov.za/judgments/sca_2004/2003_136... • round tripping transacción circular (transacción combinada, transacción comercial-de intercambio en que intervienen varios factores) Several companies. within the group were involved in a cheque ‘cross-firing’ operation. (also known as ‘kiting’, ‘round-tripping’, or ‘merry-go-round’) ... search.sabinet.co.za/images/ejour/ju_assal/ju_assal_2005_a22.pdf |
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1 day 6 hrs confidence:
| kiting and cross-firing bicicleta Explanation: es el término usado comunmente. hacer una bicicleta con cheques. se refiere básicamente a depositar cheques sin fondos girados contra otros bancos y cubrirlos con nuevos cheques con las mismas características mientras el sistema de canje bancario demora en la confirmación de los cheques. |
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