LAPPING Definition

LAPPING is a scheme to cover an embezzlement by using payments made by one customer to reduce the receivables balance of another customer.

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RECOURSE, in finance, is the right to demand payment from the maker or endorser of a negotiable instrument (as a check). See RECOURSE NOTE.

REGULATION S, in the USA, is a regulation under the Securities Act of 1933 which exempts from registration certain offers and sales of securities made outside of the United States by USA or foreign issuers.

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