Check Kiting Case - SAR Reporting Time Frame

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Question:

What is the time frame for SAR reporting on a check kiting case? If the check kite has been going on for a year or more should we report all of the activity or only the recent activity that may pose a financial risk to the bank?

Answer:

It's no different than any other, within thirty days of discovery of the activity that is suspicious. In the case of recent suspicions that led you to look at older activity and you now suspect that kiting has been going on for some time, I'd recommend you report all of the activity. The fact that you didn't discover it earlier won't count against you in reporting the activity.

First published on BankersOnline.com 11/10/08