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English definition of “skimming”

skimming

noun [U]
 
 
/ˈskɪmɪŋ/
IT the practice of stealing someone's credit card details using electronic equipment, in order to use their account illegally: Cash machines at several garages throughout London were fitted with skimming devices.
FINANCE, TAX the practice of stealing money from an account, budget, etc. over a period of time in amounts that cannot be easily noticed: The director's skimming of the charity's profits landed him in jail for a decade.
( also market-skimming pricing) MARKETING the practice of charging 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: A slow skimming policy is where the product carries a high price with a low level of promotion.
(Definition of skimming from the Cambridge Business English Dictionary © Cambridge University Press)
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