81 FR 40765 - Agency Information Collection Activities: Information Collection Renewal; Submission for OMB Review; Minimum Security Devices and Procedures, Reports of Suspicious Activities, and Bank Secrecy Act Compliance Program

DEPARTMENT OF THE TREASURY
Office of the Comptroller of the Currency

Federal Register Volume 81, Issue 120 (June 22, 2016)

The OCC, as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to take this opportunity to comment on information collections, as required by the Paperwork Reduction Act of 1995 (PRA), Public Law 104-13 (44 U.S.C. 3506(c)(2)(A)). In accordance with the requirements of the PRA, the OCC may not conduct or sponsor, and the respondent is not required to respond to, an information collection unless it displays a currently valid Office of Management and Budget (OMB) control number. The OCC is soliciting comment concerning renewal of its information collection titled, ``Minimum Security Devices and Procedures, Reports of Suspicious Activities, and Bank Secrecy Act Compliance Program.'' The OCC also is giving notice that it has sent the collection to OMB for review.

[Federal Register Volume 81, Number 120 (Wednesday, June 22, 2016)]
[Notices]
[Pages 40765-40766]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-14674]


=======================================================================
-----------------------------------------------------------------------

DEPARTMENT OF THE TREASURY

Office of the Comptroller of the Currency


Agency Information Collection Activities: Information Collection 
Renewal; Submission for OMB Review; Minimum Security Devices and 
Procedures, Reports of Suspicious Activities, and Bank Secrecy Act 
Compliance Program

AGENCY: Office of the Comptroller of the Currency (OCC).

ACTION: Notice and request for comments.

-----------------------------------------------------------------------

SUMMARY: The OCC, as part of its continuing effort to reduce paperwork 
and respondent burden, invites the general public and other Federal 
agencies to take this opportunity to comment on information 
collections, as required by the Paperwork Reduction Act of 1995 (PRA), 
Public Law 104-13 (44 U.S.C. 3506(c)(2)(A)).
    In accordance with the requirements of the PRA, the OCC may not 
conduct or sponsor, and the respondent is not required to respond to, 
an information

[[Page 40766]]

collection unless it displays a currently valid Office of Management 
and Budget (OMB) control number.
    The OCC is soliciting comment concerning renewal of its information 
collection titled, ``Minimum Security Devices and Procedures, Reports 
of Suspicious Activities, and Bank Secrecy Act Compliance Program.'' 
The OCC also is giving notice that it has sent the collection to OMB 
for review.

DATES: Written comments should be received on or before July 22, 2016.

ADDRESSES: Because paper mail in the Washington, DC area and at the OCC 
is subject to delay, commenters are encouraged to submit comments by 
email, if possible. Comments may be sent to: Legislative and Regulatory 
Activities Division, Office of the Comptroller of the Currency, 
Attention: 1557-0180, 400 7th Street SW., Suite 3E-218, Mail Stop 9W-
11, Washington, DC 20219. In addition, comments may be sent by fax to 
(571) 465-4326 or by electronic mail to [email protected]. You may 
personally inspect and photocopy comments at the OCC, 400 7th Street 
SW., Washington, DC 20219. For security reasons, the OCC requires that 
visitors make an appointment to inspect comments. You may do so by 
calling (202) 649-6700 or, for persons who are deaf or hard of hearing, 
TTY, (202) 649-5597. Upon arrival, visitors will be required to present 
valid government-issued photo identification and to submit to security 
screening in order to inspect and photocopy comments.
    All comments received, including attachments and other supporting 
materials, are part of the public record and subject to public 
disclosure. Do not include any information in your comment or 
supporting materials that you consider confidential or inappropriate 
for public disclosure.
    Additionally, please send a copy of your comments by mail to: OCC 
Desk Officer, 1557-0180, U.S. Office of Management and Budget, 725 17th 
Street NW., #10235, Washington, DC 20503, or by email to: oira 
[email protected].

FOR FURTHER INFORMATION CONTACT: Shaquita Merritt, OCC Clearance 
Officer, (202) 649-5490 or, for persons who are deaf or hard of 
hearing, TTY, (202) 649-5597, Office of the Comptroller of the 
Currency, Washington, DC 20219.

SUPPLEMENTARY INFORMATION: The OCC requests that OMB extend its 
approval of the following collection:
    Title: Minimum Security Devices and Procedures, Reports of 
Suspicious Activities, and Bank Secrecy Act Compliance Program.
    OMB Control No.: 1557-0180.
    Form Numbers: 8010-1/8010-9.
    Abstract:

Minimum Security Devices and Procedures

    Under 12 CFR 21.2 and 21.4 and 12 CFR 168.2 and 168.4, national 
banks and Federal savings associations are required to designate a 
security officer who must develop and administer a written security 
program. The security officer shall report at least annually to the 
institution's board of directors on the effectiveness of the security 
program. The substance of the report shall be reflected in the board's 
minutes. These requirements ensure that each institution has a security 
officer who is responsible for the institution's security program and 
that the institution's management and board of directors are aware of 
the content and effectiveness of the program. These requirements are 
necessary to ensure prudent institution management and safety and 
soundness.

Suspicious Activity Report (SAR)

    The Financial Crimes Enforcement Network (FinCEN) and Federal 
financial institution supervisory agencies \1\ adopted the SAR in 1996 
to simplify the process through which depository institutions inform 
their regulators and law enforcement about suspected criminal activity. 
The SAR was updated in 1999, 2002, 2006, 2009, and 2012.
---------------------------------------------------------------------------

    \1\ The Federal financial institution supervisory agencies are 
the OCC, Board of Governors of the Federal Reserve System (Board), 
Federal Deposit Insurance Corporation (FDIC), and National Credit 
Union Administration (NCUA).
---------------------------------------------------------------------------

    In 1992, the Department of the Treasury was granted broad authority 
to require suspicious transaction reporting under the Bank Secrecy Act 
(BSA). See 31 U.S.C. 5318(g). In 1996, FinCEN, which has delegated 
authority to administer the BSA, joined with the Federal financial 
institution supervisory agencies in requiring, on a consolidated form, 
reports of suspicious transactions. See 31 CFR 1020.320(a) (formerly 31 
CFR 103.18(a)). The filing of SARs is necessary to prevent and detect 
crimes involving depository institution funds, institution insiders, 
criminal transactions, and money laundering. These requirements are 
necessary to ensure institution safety and soundness.
    Banks and savings associations are required to maintain a copy of 
any SAR filed and the original or business record equivalent of any 
supporting documentation for a period of five years. The documents are 
necessary for criminal investigations and prosecutions.

Procedures for Monitoring Bank Secrecy Act Compliance

    Under 12 CFR 21.21, national banks and savings associations are 
required to develop and provide for the continued administration of a 
program reasonably designed to assure and monitor their compliance with 
the BSA and applicable Treasury regulations. The BSA compliance program 
shall be reduced to writing, approved by the board of directors and 
noted in the minutes. These requirements are necessary to ensure 
institution compliance with the BSA and applicable Treasury 
regulations.
    Type of Review: Regular.
    Affected Public: Business, for-profit institutions, and non-profit.
    Estimated Number of Respondents: 1,485.
    Estimated Total Annual Burden: 714,205 hours.
    On March 25, 2016, the OCC published a notice for 60 days of 
comment concerning this collection, 81 FR 16277. No comments were 
received. Comments continue to be invited on:
    (a) Whether the collection of information is necessary for the 
proper performance of the functions of the OCC, including whether the 
information shall have practical utility;
    (b) The accuracy of the OCC's estimate of the burden of the 
collection of information;
    (c) Ways to enhance the quality, utility, and clarity of the 
information to be collected;
    (d) Ways to minimize the burden of the collection of information on 
respondents, including through the use of automated collection 
techniques or other forms of information technology; and
    (e) Estimates of capital or start-up costs and costs of operation, 
maintenance, and purchase of services to provide information.

    Dated: June 16, 2016.
Mary Hoyle Gottlieb,
Regulatory Specialist, Legislative and Regulatory Activities Division.
[FR Doc. 2016-14674 Filed 6-21-16; 8:45 am]
 BILLING CODE 4810-33-P