skimming Meaning in the Cambridge English Dictionary Cambridge dictionaries logo

Meaning of “skimming” in the English Dictionary

"skimming" in Business English

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skimmingnoun [U]

uk   us   /ˈskɪmɪŋ/
IT the ​practice of ​stealing someone's creditcard details using ​electronicequipment, in ​order to use their ​accountillegally: Cash ​machines at several garages throughout London were ​fitted with skimming ​devices.
FINANCE, TAX the ​practice of ​stealingmoney 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 ​profitslanded 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 ​pricesfall: A ​slow skimming ​policy is where the ​productcarries a high ​price with a ​lowlevel of ​promotion.
(Definition of skimming from the Cambridge Business English Dictionary © Cambridge University Press)
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“skimming” in Business English

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