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English definition of “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 noun from the Cambridge Business English Dictionary © Cambridge University Press)
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