Skimming

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Skimming

1. The act of stealing a person's credit card information on an electronic device and transferring the information to a different card. It may occur during a normal business transaction. For example, if one uses a credit card to make a purchase, the person handling the card may surreptitiously swipe the card through another electronic device that copies the information contained on it. The skimmer then transfers the information to another card.

2. The act or practice of stealing a small amount of money from a company, especially over a long period of time, so that it adds up to a large amount. One example is a worker neglecting to ring up a sale and simply keeping the money. A more sophisticated example involves a banker stealing a few fractions of a cent each time a transaction occurs. Over time, this can add up to a great deal of money.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved
References in periodicals archive ?
Skim's algorithms will respond to their cues and deliver tailored content while diverting irrelevant information.
Regardless of who skims money or the method used, the accounting effect is the same: Revenue will be lower than it should be but the cost of producing that revenue will remain constant.
The accuracy of the part determines the need for skim cutting.
Even without "fat free" labeling or other enhancements, skim milk volume was up 8 percent in 1996, compared with a 1.5 percent decline for low-fat milk and flat sales for whole milk, according to Jerry Dryer, president of the Jerry Dryer Group, a Chicago dairy consultancy.
The Skim API offers Data Scientists and Software Developers a reliable way of gathering data from websites to use in their own products and services.
Previous research has shown that the flavor variability found in low-heat skim milk powder can impact consumer acceptance involving ingredient applications.
This article describes the various methods employees and owners use to skim money and what the forensic accountant can do to better detect and prevent such schemes.
Make sure you can actually skim stones before trying to do so with another bloke.
Pura Tone is a skim milk with skim milk concentrate added to improve the calcium and protein content.
underreported the quantity of powdered skim milk made at a Hokkaido plant on April 1 that was later linked to widespread food poisonings in western Japan, health officials in Hokkaido said Tuesday.
What has less fat, calories and lactose than skim milk, approval from U.S.
When they transform into winged adults, they climb onto a rock, then skim to shore.