The insurance company also claimed in its lawsuit that employees were not trained in regard to check kiting
and the credit union also did not review returned checks to spot potential check-kiting suspects.
Bank rules required the employee to examine checks for possible check kiting
, and the employee was not authorized to approve overdrafts in excess of $25,000.
Customers are better protected against fraud, check kiting
, and card skimming using 3VR's real-time monitoring, alerting, and investigative capabilities.
Federal prosecutors alleged a Michigan woman ran a $145 million check kiting
scheme that victimized the $137 million TruNorth Federal Credit Union in Ishpeming, Mich.
The total amount of this check kiting
scheme was $474,800,000.
Minkow's high-wire act merely included a collage of check kiting
, loan fraud, and fictitious record-keeping activities that duped everyone from shareholders to accountants to the country's most savvy investment bankers.
For example, computers are used to fight one major fraud, check kiting
, which is taking advantage of uncleared checks to inflate an account balance artificially.
Allowed or facilitated check kiting
(the fraudulent act of taking advantage of the float to make use of non-existent funds in a checking or other bank account) by the Shailendras totaling millions of dollars;
The order did not mention Danny Ray Butler, the former car wholesaler and Alabama One member whose construction loan, check kiting
and subsequent straw loans led to the disclosure of Alabama One's many leadership challenges.
District Court judge last week sentenced John Mills, the former CEO of Affiliated Foods Southwest, to 41 months in a federal prison after the executive pleaded guilty in February to a single count of aiding and abetting bank fraud by participating in a check kiting
With no family members or friends to turn to for assistance, and instead of seeking help through legal channels, Greet committed a fraud known as check kiting
and money laundering) for a customer in one view, providing a full picture of suspicious activity.