kite-flying
n.— «It said the families allegedly made use of a technique known as “crossfiring” or “kite-flying,” which involves multiple accounts, account users, “no value” cheques and internet transactions. “A cheque is written, deposited, and an account provisionally credited, with a virtual amount created. At the same time, the fraudster opens internet banking facilities, and on several occasions on the same day, that virtual amount will be transferred back to the account from which the original cheque was issued. When the money is sent out of the account, it goes out as real money, and lands back in the original account as real money.”» —“Four accused of internet banking scam worth R15m” Mail & Guardian (Johannesburg, South Africa) Dec. 6, 2005. (source: Double-Tongued Dictionary)
Further reading
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