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Copperlaw
Copperlaw, Lawyer
Category: Canada Law
Satisfied Customers: 2012
Experience:  Lawyer and Retired cop. Drug expert, breath tech, negotiator, traffic specialist. Criminal, Family, Civil and others.
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Ive been cheque kiting, and not knowing it was wrong. It was

Customer Question

Customer: Hi my name is***** been cheque kiting, and not knowing it was wrong. It was a loophole that i used for at least 8 months, and then have it all cleared on payday. I am horrified that this is considered serious. The bank has placed a hold on any deposit cheques and our accounts have been flagged by the fraud department. the cheques that I wrote on another account will bounce because now that i know I will not write another cheque to cover it, instead I would let it bounce and then pay it off a couple of days later. Should i go into my bank and tell them them that there was no intent to defraud them. I was thinking of going to the other bank as well and let them know, I am from the province of alberta.
JA: Thanks. Can you give me any more details about your issue?
Customer: right now all that has happened is that the bank has placed a hold on any cheque we write, I called and asked why and was told that our accounts were flagged by the fraud department for cheque kiting. I looked that up on friday.
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Customer: yes sure
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Submitted: 11 months ago.
Category: Canada Law
Expert:  Copperlaw replied 11 months ago.

Hi Patty

Unfortunately, this is a fraud and you could face criminal charges if the bank chooses to report this to the police. Is the bank out any money and if so, how much? Are you able to take in any cash to cover the cheques you have written so that there is no loss incurred? The bank is less likely to report this to the police if they actually have no loss.

Jim

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