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Bad Ideas Fraud, vandalism, torture, theft, revenge, scams, and other bad ideas. Please do a forum search and site search before posting. Questions about explosives, drugs, weapons, and hacking do not belong in this forum. Please keep things theoretical in nature. Do not admit to crimes you have done or are planning to do.

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 #1 
Old 2003-01-03, 17:41
deadkennedy deadkennedy is offline
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Default check kiting

Ok, let me see if I have this right. (I read the article in the scams section)

Ok get 2 bank accounts (fake)
Say 500 in each account
go to the one bank and make out a check for 500.
Go to the other bank and cash it (cash not deposit)
Real quick like, go to the other bank and cash a 500 dolla check (not deposit)
Withdraw all the money out of each account, and get out.

Ok, my question is how long does it take to get the check cleared.
 #2 
Old 2003-01-03, 21:52
Regular
 
Your Happy Place
Default Re: check kiting

Not really. There is not a whole lot of difference between what you discribed and bouncing a check. What kiting does is use multiple deposits so that the bank thinks you have way more money than what you started with. You make deposits, not cash checks. Start with two accounts and each one always has a new deposit pending before the last one clears. They all clear because both accounts are always freshly stocked with imaginary funds. After you do this several times, you can cash a check for way more than double your original deposit and split. In theory of course. If a new account has a series of increasing deposits from the same institution all within less time than it takes a check to clear, they will be on the phone with that other bank. Also now they have you put your finger print on personal checks that are not yours or that are not from that bank.
 
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