josh, the owner of a software company, is facing cash flow problems. to control the cash outflow, he avoids paying the bills to his vendors. after much delay, he sends a check in payment but intentionally forgets to sign the check. to prevent the cash from going out of his business, josh is applying the strategy of

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01-12-2022
Business

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josh, the owner of a software company, is facing cash flow problems. to control the cash outflow, he avoids paying the bills to his vendors. after much delay, he sends a check in payment but intentionally forgets to sign the check. to prevent the cash from going out of his business, josh is applying the strategy of

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Amadeleine12 Amadeleine12 · Answer 1 · 2022-12-07T00:36:25+01:00

To prevent the cash from leaving his business, josh applies the strategy of Check kiting.

Since, by delaying payment and not signing the check, Josh is trying to prevent the money from leaving his business, which is an example of check kiting.

What is Check kiting?

Is a form of bank fraud where someone will write a check from a bank account with insufficient funds, knowing that the bank is unlikely to catch it and will likely accept it. The person will then transfer the money from this account to another account before the bank discovers the fraud.

This allows the person to take advantage of the float time between the two banks and use the money in the second account before the bank discovers the fraud. This is a very serious form of fraud, as it can cost banks millions of dollars and can also be used to cover up other forms of fraud.

Learn more about Check kiting:

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