83_FR_46190 83 FR 46014 - Agency Information Collection Activities; Proposed Renewal; Comment Request; Renewal Without Change of Anti-Money Laundering Programs for Precious Metals, Precious Stones, or Jewels

83 FR 46014 - Agency Information Collection Activities; Proposed Renewal; Comment Request; Renewal Without Change of Anti-Money Laundering Programs for Precious Metals, Precious Stones, or Jewels

DEPARTMENT OF THE TREASURY
Financial Crimes Enforcement Network

Federal Register Volume 83, Issue 176 (September 11, 2018)

Page Range46014-46015
FR Document2018-19655

FinCEN invites comment on a renewal, without change, to information collections found in existing regulations requiring dealers in precious metals, stones, or jewels, to develop and implement written anti-money laundering programs reasonably designed to prevent those financial institutions from being used to facilitate money laundering and the financing of terrorist activities. This request for comments is being made pursuant to the Paperwork Reduction Act (``PRA'') of 1995.

Federal Register, Volume 83 Issue 176 (Tuesday, September 11, 2018) 
[Federal Register Volume 83, Number 176 (Tuesday, September 11, 2018)]
[Notices]
[Pages 46014-46015]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2018-19655]


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DEPARTMENT OF THE TREASURY

Financial Crimes Enforcement Network


Agency Information Collection Activities; Proposed Renewal; 
Comment Request; Renewal Without Change of Anti-Money Laundering 
Programs for Precious Metals, Precious Stones, or Jewels

AGENCY: Financial Crimes Enforcement Network (``FinCEN''), U.S. 
Department of the Treasury.

ACTION: Notice and request for comments.

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SUMMARY: FinCEN invites comment on a renewal, without change, to 
information collections found in existing regulations requiring dealers 
in precious metals, stones, or jewels, to develop and implement written 
anti-money laundering programs reasonably designed to prevent those 
financial institutions from being used to facilitate money laundering 
and the financing of terrorist activities. This request for comments is 
being made pursuant to the Paperwork Reduction Act (``PRA'') of 1995.

DATES: Written comments are welcome and must be received on or before 
November 13, 2018.

ADDRESSES: Comments may be submitted by any of the following methods:
     Federal E-rulemaking Portal: http://www.regulations.gov. 
Follow the instructions for submitting comments. Refer to Docket Number 
FINCEN-2018-0014 and the Office of Management and Budget (``OMB'') 
control number 1506-0030.
     Mail: Policy Division, Financial Crimes Enforcement 
Network, P.O. Box 39, Vienna, VA 22183. Refer to Docket Number FINCEN-
2018-0014 and OMB control number 1506-0030.
    Please submit comments by one method only. Comments will also be 
incorporated to FinCEN's retrospective regulatory review process, as 
mandated by E.O. 12866 and 13563. All comments submitted in response to 
this notice will become a matter of public record. Therefore, you 
should submit only information that you wish to make publicly 
available.

FOR FURTHER INFORMATION CONTACT: The FinCEN Resource Center at 800-767-
2825 or electronically at frc@fincen.gov.

SUPPLEMENTARY INFORMATION: The Bank Secrecy Act (``BSA''), Titles I and 
II of Public Law 91-508, as amended, codified at 12 U.S.C. 1829(b), 12 
U.S.C. 1951-1959, and 31 U.S.C. et seq., authorizes the Secretary of 
the Treasury, among other things, to require financial institutions to 
keep records and file reports that are determined to have a high degree 
of usefulness in criminal, tax, and regulatory matters or in the 
conduct of intelligence or counter-intelligence activities to protect 
against international terrorism, and to implement counter-money 
laundering programs and compliance procedures.\1\ Title III of the USA 
PATRIOT Act of 2001, Public Law 107-56, included certain amendments to 
the anti-money laundering provisions of Title II of the BSA, 31 U.S.C. 
5311 et seq., which are intended to aid in the prevention, detection, 
and prosecution of international money laundering and terrorist 
financing.
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    \1\ Language expanding the scope of the BSA to intelligence or 
counter-intelligence activities to protect against international 
terrorism was added by Section 358 of the Uniting and Strengthening 
America by Providing Appropriate Tools Required to Intercept and 
Obstruct Terrorism Act of 2001, Public Law 107-56.
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    Regulations implementing Title II of the BSA appear at 31 CFR 
Chapter X. The authority of the Secretary of the Treasury to administer 
Title II of the BSA has been delegated to the Director of FinCEN. The 
information collected and retained under the regulation addressed in 
this notice assist federal, state, and local law enforcement as well as 
regulatory authorities in the identification, investigation and 
prosecution of money laundering and other matters.
    In accordance with the requirements of the PRA and its implementing 
regulations, the following information is presented concerning the 
information collection below.
    Title: Anti-Money Laundering Programs for Dealers in Precious 
Metals, Precious Stones, or Jewels (31 CFR 1027.210).
    OMB Control Number: 1506-0030.
    Abstract: Dealers in precious metals, precious stones, or jewels 
are required to develop and implement written anti-money laundering 
programs. A copy of the written program must be maintained for five 
years.
    Current Action: Renewal without change to existing regulations.
    Type of Review: Renewal without change to a currently approved 
information collection.
    Affected Public: Business and other for-profit institutions.
    Burden: Estimated Number of Respondents: 20,000.\2\
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    \2\ During the last information collection renewal, FinCEN did 
not receive any comments suggesting or requesting a different 
estimated number of respondents. The respondents are required to 
develop, implement, and maintain a copy of their program, but there 
is no requirement to report it to FinCEN. Therefore, FinCEN does not 
have an independent means of verifying this number.

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[[Page 46015]]

    Estimated Annual Responses: 20,000.
    Estimated Burden per Response: 1 hour.
    Estimated Total Burden Hours: 20,000 hours.
    An agency may not conduct or sponsor, and a person is not required 
to respond to, a collection of information unless the collection of 
information displays a valid control number assigned by the Office of 
Management and Budget. Records required to be retained under the BSA 
must be retained for five years. Generally, information collected 
pursuant to the BSA is confidential but may be shared as provided by 
law with regulatory and law enforcement authorities.
    Request for Comments: Comments submitted in response to this notice 
will be summarized and/or included in the request for OMB approval. All 
comments will become a matter of public record. Comments are invited 
on: (a) Whether the collection of information is necessary for the 
proper performance of the functions of the agency, including whether 
the information shall have practical utility; (b) the accuracy of the 
agency'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.

Jamal El-Hindi,
Deputy Director, Financial Crimes Enforcement Network.
[FR Doc. 2018-19655 Filed 9-10-18; 8:45 am]
 BILLING CODE 4810-02-P

46014 Federal Register / Vol. 83, No. 176 / Tuesday, September 11, 2018 / Notices Estimated Number of Respondents: DEPARTMENT OF THE TREASURY among other things, to require financial 280,000.2 institutions to keep records and file Financial Crimes Enforcement Network reports that are determined to have a Estimated Burden per Respondent: 30 minutes.3 high degree of usefulness in criminal, Agency Information Collection tax, and regulatory matters or in the Estimated Total Annual Burden Activities; Proposed Renewal; conduct of intelligence or counter- Hours: 140,000 hours. Comment Request; Renewal Without intelligence activities to protect against An agency may not conduct or Change of Anti-Money Laundering international terrorism, and to sponsor, and a person is not required to Programs for Precious Metals, implement counter-money laundering Precious Stones, or Jewels programs and compliance procedures.1 respond to, a collection of information unless the collection of information AGENCY: Financial Crimes Enforcement Title III of the USA PATRIOT Act of displays a valid OMB control number. Network (‘‘FinCEN’’), U.S. Department 2001, Public Law 107–56, included Records required to be retained under of the Treasury. certain amendments to the anti-money the BSA must be retained for five years. laundering provisions of Title II of the ACTION: Notice and request for Generally, information collected BSA, 31 U.S.C. 5311 et seq., which are comments. pursuant to the BSA is confidential, but intended to aid in the prevention, may be shared as provided by law with SUMMARY: FinCEN invites comment on a detection, and prosecution of renewal, without change, to information international money laundering and regulatory and law enforcement collections found in existing regulations terrorist financing. authorities. Regulations implementing Title II of requiring dealers in precious metals, Request for Comments: Comments stones, or jewels, to develop and the BSA appear at 31 CFR Chapter X. submitted in response to this notice will implement written anti-money The authority of the Secretary of the be summarized and/or included in the laundering programs reasonably Treasury to administer Title II of the request for OMB approval. All designed to prevent those financial BSA has been delegated to the Director comments will become a matter of institutions from being used to facilitate of FinCEN. The information collected public record. Comments are invited on: money laundering and the financing of and retained under the regulation (a) Whether the collection of terrorist activities. This request for addressed in this notice assist federal, information is necessary for the proper comments is being made pursuant to the state, and local law enforcement as well performance of the functions of the Paperwork Reduction Act (‘‘PRA’’) of as regulatory authorities in the agency, including whether the 1995. identification, investigation and information shall have practical utility; prosecution of money laundering and DATES: Written comments are welcome other matters. (b) the accuracy of the agency’s estimate and must be received on or before of the burden of the collection of In accordance with the requirements November 13, 2018. of the PRA and its implementing information; (c) ways to enhance the ADDRESSES: Comments may be regulations, the following information is quality, utility, and clarity of the submitted by any of the following presented concerning the information information to be collected; (d) ways to methods: collection below. minimize the burden of the collection of • Federal E-rulemaking Portal: http:// Title: Anti-Money Laundering information on respondents, including www.regulations.gov. Follow the Programs for Dealers in Precious Metals, through the use of automated collection instructions for submitting comments. Precious Stones, or Jewels (31 CFR techniques or other forms of information Refer to Docket Number FINCEN–2018– 1027.210). technology; and (e) estimates of capital 0014 and the Office of Management and OMB Control Number: 1506–0030. or start-up costs and costs of operation, Budget (‘‘OMB’’) control number 1506– Abstract: Dealers in precious metals, maintenance, and purchase of services 0030. precious stones, or jewels are required to provide information. • Mail: Policy Division, Financial to develop and implement written anti- Crimes Enforcement Network, P.O. Box money laundering programs. A copy of Jamal El-Hindi, 39, Vienna, VA 22183. Refer to Docket the written program must be maintained Deputy Director, Financial Crimes Number FINCEN–2018–0014 and OMB for five years. Enforcement Network. control number 1506–0030. Current Action: Renewal without [FR Doc. 2018–19654 Filed 9–10–18; 8:45 am] Please submit comments by one change to existing regulations. BILLING CODE 4810–02–P method only. Comments will also be Type of Review: Renewal without incorporated to FinCEN’s retrospective change to a currently approved regulatory review process, as mandated information collection. by E.O. 12866 and 13563. All comments Affected Public: Business and other submitted in response to this notice will for-profit institutions. become a matter of public record. Burden: Estimated Number of Therefore, you should submit only Respondents: 20,000.2 information that you wish to make 1 Language expanding the scope of the BSA to publicly available. intelligence or counter-intelligence activities to FOR FURTHER INFORMATION CONTACT: The protect against international terrorism was added by FinCEN Resource Center at 800–767– Section 358 of the Uniting and Strengthening daltland on DSKBBV9HB2PROD with NOTICES 2 DHS indicates that different numbers of CMIRs 2825 or electronically at frc@fincen.gov. America by Providing Appropriate Tools Required are filed each year. In 2014, approximately 235,000 to Intercept and Obstruct Terrorism Act of 2001, SUPPLEMENTARY INFORMATION: The Bank Public Law 107–56. CMIRs were filed, the highest number of filings between 2012 and 2017. In addition, the number of Secrecy Act (‘‘BSA’’), Titles I and II of 2 During the last information collection renewal, Public Law 91–508, as amended, FinCEN did not receive any comments suggesting filings display an upward trend. or requesting a different estimated number of 3 During the last information collection renewal, codified at 12 U.S.C. 1829(b), 12 U.S.C. respondents. The respondents are required to FinCEN did not receive any comments suggesting 1951–1959, and 31 U.S.C. et seq., develop, implement, and maintain a copy of their or requesting a different estimated burden. authorizes the Secretary of the Treasury, program, but there is no requirement to report it to VerDate Sep<11>2014 18:49 Sep 10, 2018 Jkt 244001 PO 00000 Frm 00140 Fmt 4703 Sfmt 4703 E:\FR\FM\11SEN1.SGM 11SEN1

Federal Register / Vol. 83, No. 176 / Tuesday, September 11, 2018 / Notices 46015 Estimated Annual Responses: 20,000. Notice and request for ACTION: activities to protect against international Estimated Burden per Response: 1 comments. terrorism, and to implement counter- hour. money laundering programs and Estimated Total Burden Hours: 20,000 SUMMARY: FinCEN invites comment on a compliance procedures.1 Title III of the hours. proposed renewal, without change, to USA PATRIOT Act of 2001, Public Law An agency may not conduct or information collections found in 107–56, included certain amendments sponsor, and a person is not required to regulations requiring banks, savings to the anti-money laundering provisions respond to, a collection of information associations, credit unions, certain non- of Title II of the BSA, 31 U.S.C. 5311 et unless the collection of information federally regulated banks, futures seq., which are intended to aid in the displays a valid control number commission merchants, and introducing prevention, detection, and prosecution assigned by the Office of Management brokers in commodities to develop and of international money laundering and and Budget. Records required to be implement customer identification terrorist financing. retained under the BSA must be programs designed to allow the covered Regulations implementing Title II of retained for five years. Generally, financial institution to form a the BSA appear at 31 CFR Chapter X. information collected pursuant to the reasonable belief that it knows the true The authority of the Secretary of the BSA is confidential but may be shared identity of each customer. This request Treasury to administer Title II of the as provided by law with regulatory and for comment is being made pursuant to BSA has been delegated to the Director law enforcement authorities. the Paperwork Reduction Act (‘‘PRA’’) of FinCEN. The information collected Request for Comments: Comments of 1995. and retained under the regulation submitted in response to this notice will DATES: Written comments are welcome addressed in this notice assist Federal, be summarized and/or included in the and must be received on or before state, and local law enforcement as well request for OMB approval. All November 13, 2018. as regulatory authorities in the comments will become a matter of ADDRESSES: Comments may be identification, investigation and public record. Comments are invited on: submitted by any of the following prosecution of money laundering and (a) Whether the collection of methods: other matters. information is necessary for the proper • Federal E-rulemaking Portal: http:// Section 5318(l) of the BSA requires performance of the functions of the www.regulations.gov. Follow the FinCEN to issue regulations prescribing agency, including whether the instructions for submitting comments. customer identification programs for information shall have practical utility; Refer to Docket Number FINCEN–2018– financial institutions. Those regulations, (b) the accuracy of the agency’s estimate 0013 and the Office of Management and at a minimum, must require financial of the burden of the collection of Budget (‘‘OMB’’) control number of the institutions implement reasonable information; (c) ways to enhance the information collection(s) you wish to procedures for (1) verifying the identity quality, utility, and clarity of the comment on (OMB control numbers of any person seeking to open an information to be collected; (d) ways to 1506–0022 and/or 1506–0026). account, to the extent reasonable and minimize the burden of the collection of • Mail: Policy Division, Financial practicable; (2) maintaining records of information on respondents, including Crimes Enforcement Network, P.O. Box the information used to verify the through the use of automated collection 39, Vienna, VA 22183. Refer to Docket person’s identity, including name, techniques or other forms of information Number FINCEN–2018–0013 and the address, and other identifying technology; and (e) estimates of capital OMB control number of the information information; and (3) determining or start-up costs and costs of operation, collection(s) you wish to comment on whether the person appears on any lists maintenance and purchase of services to (OMB control numbers 1506–0022 and/ of known or suspected terrorists or provide information. or 1506–0026). terrorist organizations provided to the Please submit comments by one financial institution by any government Jamal El-Hindi, agency. The regulations are to take into method only. Comments will also be Deputy Director, Financial Crimes consideration the various types of Enforcement Network. incorporated to FinCEN’s retrospective regulatory review process, as mandated accounts maintained by various types of [FR Doc. 2018–19655 Filed 9–10–18; 8:45 am] financial institutions, the various by E.O. 12866 and 13563. All comments BILLING CODE 4810–02–P submitted in response to this notice will methods of opening accounts, and the become a matter of public record. various types of identifying information Therefore, you should submit only available. Regulations implementing DEPARTMENT OF THE TREASURY section 5318(l) with respect to banks, information that you wish to make publicly available. savings associations, credit unions, and Financial Crimes Enforcement Network certain non-federally regulated banks FOR FURTHER INFORMATION CONTACT: The Agency Information Collection are found at 31 CFR 1020.220. FinCEN Resource Center at 800–767– Activities; Proposed Renewal: Regulations implementing section 2825 or electronically at frc@fincen.gov. Comment Request; Renewal Without 5318(l) with respect to futures SUPPLEMENTARY INFORMATION: The Bank commission merchants and introducing Change of Customer Identification Secrecy Act (‘‘BSA’’), Titles I and II of Programs for Banks, Savings brokers in commodities are found at 31 Public Law 91–508, as amended, CFR 1026.220. Associations, Credit Unions, Certain codified at 12 U.S.C. 1829(b), 12 U.S.C. In accordance with the requirements Non-Federally Regulated Banks, 1951–1959, and 31 U.S.C. 5311–5314 of the PRA and its implementing Futures Commission Merchants, and and 5316–5332, authorizes the Secretary regulations, the following information is daltland on DSKBBV9HB2PROD with NOTICES Introducing Brokers in Commodities of the Treasury, among other things, to AGENCY: Financial Crimes Enforcement require financial institutions to keep 1 Language expanding the scope of the BSA to Network (‘‘FinCEN’’), U.S. Department records and file reports that are intelligence or counter-intelligence activities to determined to have a high degree of protect against international terrorism was added by of the Treasury. Section 358 of the Uniting and Strengthening usefulness in criminal, tax, and America by Providing Appropriate Tools Required FinCEN. Therefore, FinCEN does not have an regulatory matters or in the conduct of to Intercept and Obstruct Terrorism Act of 2001, independent means of verifying this number. intelligence or counter-intelligence Public Law 107–56. VerDate Sep<11>2014 18:49 Sep 10, 2018 Jkt 244001 PO 00000 Frm 00141 Fmt 4703 Sfmt 4703 E:\FR\FM\11SEN1.SGM 11SEN1


Document Created: 2018-09-11 01:03:17
Document Modified: 2018-09-11 01:03:17
CategoryRegulatory Information
CollectionFederal Register
sudoc ClassAE 2.7:
GS 4.107:
AE 2.106:
PublisherOffice of the Federal Register, National Archives and Records Administration
SectionNotices
ActionNotice and request for comments.
DatesWritten comments are welcome and must be received on or before November 13, 2018.
ContactThe FinCEN Resource Center at 800-767- 2825 or electronically at [email protected]
FR Citation83 FR 46014 
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