Check Washing is a specific type of check fraud involving stealing and altering checks by removing ink with chemicals.
Cheque Kiting is a deceptive practice where an individual draws against uncleared cheques, thereby fraudulently utilizing funds not currently available in their account.
Check kiting is an illegal scheme that establishes a false line of credit by the exchange of worthless checks between two banks, exploiting the time taken for checks to clear.
In 2012, the LIBOR scandal revealed the manipulation of the London Interbank Offered Rate by bankers for profit. This article delves into the events, the repercussions for businesses, and the broader financial implications.
