There is no specific guidance on how to calculate the amount involved in a kite. By definition, the amount of checks written will roughly equal the amount of checks deposited. As a personal opinion, it is the deposited checks that were written against insufficient funds that I would have a problem with; that's the amount I would use.
Meaning of Aggregated Total on SAR
I am unsure what to enter when completing the dollar amount involved on a SAR. Does aggregated total mean the amount deposited and the amount withdrawn as one total? An example is a kiting scheme, would I enter the amount of checks deposited from the other bank or the amount of checks written to the other bank or both?
First published on 04/21/2014