Understanding the type of fraud called “Kiting” in banking & on how banks inflate its capital.
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Sizwe Dhlomo spoke to Social Commentator & Chartered Accountant, Khaya Sithole to help listeners understand the concept of “Kite-flying” in banking and on how banks inflate its capital and the effects of ki-ting on a company's balance sheet. Kite-flying in banking is said to involve creating artificial balances by writing cheques between accounts at different banks, effectively obtaining unauthorized capital.
