The process of transferring money from one bank account to another and improperly recording the transaction is referred to as
A) kiting.
B) lapping.
C) scamming.
D) embezzling.

Question

Quizplus · Accepted Answer

Kiting is a fraudulent practice where funds are moved between bank accounts with the intention of artificially inflating the account balance. This is done by temporarily transferring funds from one account to another without the funds actually being available in either account. Incorrect recording of the transaction is a key aspect of kiting.

The Process of Transferring Money from One Bank Account to Another