skimming

Definitions

Accounting

  • noun the unethical and usually illegal practice of taking small amounts of money from accounts that belong to other individuals or organisations

Law

Slang

  • noun taking money illegally (e.g. before declaring it for tax purposes, or to defraud the eventual recipients) from income or profits, especially in casinos. The word is part of underworld jargon as used by organised crime in the USA. ‘Skim’ was used to mean money or profit in both Britain and the USA in the 19th century, the image evoked being that of taking the cream off the top of the milk.
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