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English definition of “skim”

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skim

verb [T]
 
 
/skɪm/ (-mm-) ( also skim off)
FINANCE, TAX to steal money from an account, budget, etc. over a period of time in amounts that cannot be easily noticed: skim sth from sth The defendants were accused of skimming money from a multimillion-dollar construction project. During the lifetime of their company the defendants skimmed off more than €5.5 million.
IT to steal someone's credit card details using electronic equipment, in order to use their account illegally: More than $98m of total bank fraud was taken by criminals using bank cards that had been skimmed.
skim the market MARKETING to charge a high price for a new product in order to make as much profit as possible before other similar products become available and prices fall: Marketers might choose to skim the market to position their brand as a luxury good.
(Definition of skim from the Cambridge Business English Dictionary © Cambridge University Press)
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