Skimming
Skimming is a financial term that refers to the practice of taking a small amount of money from a large sum of money. It is a form of fraud that is often used by criminals to steal money from unsuspecting victims. Skimming is usually done by taking a small percentage of the total amount of money that is being transferred or exchanged. This can be done in a variety of ways, such as taking a percentage of the total amount of money that is being exchanged, or taking a percentage of the total amount of money that is being transferred. Skimming can also be done by taking a percentage of the total amount of money that is being withdrawn from an account.
History of Skimming
Skimming has been around for centuries, and it has been used by criminals to steal money from unsuspecting victims. The practice of skimming dates back to the early days of banking, when banks would take a small percentage of the total amount of money that was being exchanged. This practice was known as “skimming” and it was used to take a small percentage of the total amount of money that was being exchanged. This practice was eventually outlawed, but it is still used by criminals today.
Skimming is also used by businesses to take a small percentage of the total amount of money that is being exchanged. This is done to cover the cost of processing the transaction, and it is usually done without the knowledge of the customer. This practice is known as “merchant skimming” and it is illegal in many countries.
Table of Comparisons
| Type of Skimming | Percentage Taken |
|---|---|
| Bank Skimming | 1-2% |
| Merchant Skimming | 0.5-1% |
Summary
Skimming is a financial term that refers to the practice of taking a small amount of money from a large sum of money. It is a form of fraud that is often used by criminals to steal money from unsuspecting victims. Skimming is usually done by taking a small percentage of the total amount of money that is being transferred or exchanged. This can be done in a variety of ways, such as taking a percentage of the total amount of money that is being exchanged, or taking a percentage of the total amount of money that is being transferred. Skimming can also be done by taking a percentage of the total amount of money that is being withdrawn from an account. For more information about skimming, you can visit websites such as the Federal Trade Commission, the Internal Revenue Service, and the Federal Bureau of Investigation.
See Also
- Money Laundering
- Identity Theft
- Credit Card Fraud
- Bank Fraud
- Wire Fraud
- Phishing
- Embezzlement
- Forgery
- Counterfeiting
- Tax Evasion
