83 FR 5828 - Agency Information Collection Activities; Comment Request; Renewal Without Change of Bank Secrecy Act Currency Transaction Reporting Requirements Regulations
DEPARTMENT OF THE TREASURY
Financial Crimes Enforcement Network Federal Register Volume 83, Issue 28 (February 9, 2018)
Financial Crimes Enforcement Network
Federal Register Volume 83, Issue 28 (February 9, 2018)
| Page Range | 5828-5829 | |
| FR Document | 2018-02584 |
[Federal Register Volume 83, Number 28 (Friday, February 9, 2018)] [Notices] [Pages 5828-5829] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2018-02584] ======================================================================= ----------------------------------------------------------------------- DEPARTMENT OF THE TREASURY Financial Crimes Enforcement Network Agency Information Collection Activities; Comment Request; Renewal Without Change of Bank Secrecy Act Currency Transaction Reporting Requirements Regulations AGENCY: Financial Crimes Enforcement Network (``FinCEN''), U.S. Department of the Treasury. ACTION: Notice and request for comments. ----------------------------------------------------------------------- SUMMARY: FinCEN, a bureau of the U.S. Department of the Treasury (``Treasury''), invites all interested parties to comment on its proposed renewal without change of the Bank Secrecy Act (``BSA'') regulations requiring Currency Transaction Reporting (``CTR'') for certain financial institutions, i.e., depository institutions, money services businesses, brokers or dealers in securities, mutual funds, futures commission merchants, and introducing brokers in commodities. FinCEN intends to submit this requirement for approval by the Office of Management and Budget (``OMB'') for a three-year extension of Control Number 1506-0004. This request for comments is made pursuant to the Paperwork Reduction Act (``PRA'') of 1995. DATES: Written comments should be received on or before April 10, 2018 to be assured of consideration. 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-2017-0012 and the OMB control number affected. Mail: Policy Division, Financial Crimes Enforcement Network, P.O. Box 39, Vienna, VA 22183. Refer to Docket Number FINCEN- 2017-0012 and the OMB control number affected. Please submit comments by one method only. 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 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. 5311-5332, 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\ Regulations implementing Title II of the BSA appear at 31 CFR Chapter X. The authority of the Secretary of the Treasury to administer 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, 44 U.S.C. 3506(c)(2)(A), and its implementing regulations, the following information is presented concerning the recordkeeping requirements listed below. --------------------------------------------------------------------------- \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. --------------------------------------------------------------------------- Title: Currency Transaction Reports. OMB Number: 1506-0004. Abstract: In accordance with 31 CFR 1010.310, 1020.310, 1022.310, 1023.310, 1024.310, 1026.310, covered financial institutions are required to report certain transactions in currency and maintain the records for a period of five years. Covered financial institutions may satisfy these requirements by using their internal records management system. Current Action: Renewal without change to the existing regulations. Type of Review: Extension of currently approved regulatory requirement. Affected Public: Businesses or other for-profit institutions, and non-profit institutions. Burden: The administrative burden of 1 hour is assigned to maintain the requirement in force. The burden for actual reporting is reflected in OMB Control number 1506-0064. [[Page 5829]] The following paragraph applies to the reporting and recordkeeping requirements addressed in this notice. 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 OMB control number. 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. Dated: February 5, 2018. Jamal El-Hindi, Deputy Director, Financial Crimes Enforcement Network. [FR Doc. 2018-02584 Filed 2-8-18; 8:45 am] BILLING CODE 4810-02-P
![5828 Federal Register / Vol. 83, No. 28 / Friday, February 9, 2018 / Notices
At the close of the comment period, Authority: 49 U.S.C. 30141(a)(1)(A), FOR FURTHER INFORMATION CONTACT: The
NHTSA decides, on the basis of the (a)(1)(B), and (b)(1); 49 CFR 593.7; delegation FinCEN Resource Center at 800–767–
petition and any comments that it has of authority at 49 CFR 1.95 and 501.8. 2825 or electronically at frc@fincen.gov.
received, whether the vehicle is eligible Jeffrey M. Giuseppe, SUPPLEMENTARY INFORMATION: The BSA,
for importation. The agency then Associate Administrator for Enforcement. Titles I and II of Public Law 91–508, as
publishes this decision in the Federal [FR Doc. 2018–02673 Filed 2–8–18; 8:45 am] amended, codified at 12 U.S.C. 1829(b),
Register. BILLING CODE 4910–59–P
12 U.S.C.1951–1959, and 31 U.S.C.
Autostadt West of West Sacramento, 5311–5332, authorizes the Secretary of
California (Registered Importer R–06– the Treasury, among other things, to
346) has petitioned NHTSA to decide DEPARTMENT OF THE TREASURY require financial institutions to keep
records and file reports that are
whether nonconforming MY 2006
Financial Crimes Enforcement Network determined to have a high degree of
Penman Lightweight GS cargo trailers
usefulness in criminal, tax, and
are eligible for importation into the
Agency Information Collection regulatory matters, or in the conduct of
United States, and included, as part of
Activities; Comment Request; Renewal intelligence or counter-intelligence
their petition, information intended to
Without Change of Bank Secrecy Act activities to protect against international
demonstrate that non-U.S. certified MY
Currency Transaction Reporting terrorism, and to implement counter-
2006 Penman Lightweight GS cargo Requirements Regulations money laundering programs and
trailers conform to some FMVSS and are
compliance procedures.1 Regulations
capable of being altered to comply with AGENCY: Financial Crimes Enforcement
implementing Title II of the BSA appear
all other standards to which they were Network (‘‘FinCEN’’), U.S. Department
at 31 CFR Chapter X. The authority of
not originally manufactured to conform. of the Treasury.
the Secretary of the Treasury to
Specifically, the petitioner claims that ACTION: Notice and request for
administer the BSA has been delegated
MY 2006 Penman Lightweight GS cargo comments. to the Director of FinCEN. The
trailers, as originally manufactured, SUMMARY: FinCEN, a bureau of the U.S. information collected and retained
conform to Standard No. 106, Brake Department of the Treasury under the regulation addressed in this
Hoses. (‘‘Treasury’’), invites all interested notice assist Federal, state, and local
The petitioner also contends that the parties to comment on its proposed law enforcement, as well as regulatory
subject non-U.S. certified trailers are renewal without change of the Bank authorities, in the identification,
capable of being readily altered to meet Secrecy Act (‘‘BSA’’) regulations investigation, and prosecution of money
the following standards, in the manner requiring Currency Transaction laundering and other matters. In
indicated: Reporting (‘‘CTR’’) for certain financial accordance with the requirements of the
institutions, i.e., depository institutions, PRA, 44 U.S.C. 3506(c)(2)(A), and its
Standard No. 108, Lamps, Reflective implementing regulations, the following
money services businesses, brokers or
Devices and Associated Equipment: information is presented concerning the
dealers in securities, mutual funds,
Replacement of noncompliant tail, stop, recordkeeping requirements listed
futures commission merchants, and
and rear turn signal lamps, as well as below.
introducing brokers in commodities.
front and rear side reflectors, with FinCEN intends to submit this Title: Currency Transaction Reports.
lamps and reflectors that meet the requirement for approval by the Office OMB Number: 1506–0004.
standard. of Management and Budget (‘‘OMB’’) for Abstract: In accordance with 31 CFR
Standard No. 110, Tire Selection and a three-year extension of Control 1010.310, 1020.310, 1022.310, 1023.310,
Rims: Inspection of tires and rims for Number 1506–0004. This request for 1024.310, 1026.310, covered financial
certification markings, replacement of comments is made pursuant to the institutions are required to report
any noncompliant tires and rims with Paperwork Reduction Act (‘‘PRA’’) of certain transactions in currency and
parts that meet the standard and 1995. maintain the records for a period of five
installation of the required tire years. Covered financial institutions
DATES: Written comments should be
information placard. may satisfy these requirements by using
received on or before April 10, 2018 to their internal records management
Standard No. 116, Brake Fluids: be assured of consideration. system.
Replacement of brake fluid with ADDRESSES: Comments may be Current Action: Renewal without
compliant brake fluid. submitted by any of the following change to the existing regulations.
The petitioner also notes that the methods: Type of Review: Extension of
vehicle must be fitted with a • Federal E-rulemaking Portal: http:// currently approved regulatory
certification label in order to meet the www.regulations.gov. Follow the requirement.
requirements of 49 CFR 567, instructions for submitting comments. Affected Public: Businesses or other
Certification. Refer to Docket Number FINCEN–2017– for-profit institutions, and non-profit
0012 and the OMB control number institutions.
All comments received before the affected. Burden: The administrative burden of
close of business on the closing date • Mail: Policy Division, Financial 1 hour is assigned to maintain the
indicated above will be considered, and Crimes Enforcement Network, P.O. Box requirement in force. The burden for
will be available for examination in the 39, Vienna, VA 22183. Refer to Docket actual reporting is reflected in OMB
docket at the above addresses both
sradovich on DSK3GMQ082PROD with NOTICES
Number FINCEN–2017–0012 and the Control number 1506–0064.
before and after that date. To the extent OMB control number affected.
possible, comments filed after the Please submit comments by one 1 Language expanding the scope of the BSA to
closing date will also be considered. method only. All comments submitted intelligence or counter-intelligence activities to
Notice of final action on the petition in response to this notice will become protect against international terrorism was added by
Section 358 of the Uniting and Strengthening
will be published in the Federal a matter of public record. Therefore, you America by Providing Appropriate Tools Required
Register pursuant to the authority should submit only information that to Intercept and Obstruct Terrorism Act of 2001,
indicated below. you wish to make publicly available. Public Law 107–56.
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![Federal Register / Vol. 83, No. 28 / Friday, February 9, 2018 / Notices 5829
The following paragraph applies to Secrecy Act (‘‘BSA’’) Suspicious notice assist Federal, state, and local
the reporting and recordkeeping Activity Reporting regulations for law enforcement, as well as regulatory
requirements addressed in this notice. certain financial institutions, i.e., authorities, in the identification,
An agency may not conduct or sponsor, depository institutions and insurance investigation, and prosecution of money
and a person is not required to respond companies. FinCEN intends to submit laundering and other matters. In
to, a collection of information unless the these requirements for approval by the accordance with the requirements of the
collection of information displays a Office of Management and Budget PRA, 44 U.S.C. 3506(c)(2)(A), and its
valid OMB control number. Records (‘‘OMB’’) of a three-year extension of implementing regulations, the following
required to be retained under the BSA Control Numbers 1506–0001, and 1506– information is presented concerning the
must be retained for five years. 0029. This request for comments is recordkeeping requirements listed
Generally, information collected made pursuant to the Paperwork below.
pursuant to the BSA is confidential, but Reduction Act (‘‘PRA’’) of 1995. 1. Title: Suspicious Activity Report by
may be shared, as provided by law, with DATES: Written comments should be Depository Institutions.
regulatory and law enforcement received on or before April 10, 2018 to OMB Number: 1506–0001.
authorities. be assured of consideration. Abstract: In accordance with 31 CFR
Request for Comments: Comments 1020.320, covered financial institutions
ADDRESSES: Comments may be
submitted in response to this notice will are required to report suspicious activity
submitted by any of the following
be summarized and/or included in the and maintain the records for a period of
methods:
request for OMB approval. All • Federal E-rulemaking Portal: http:// five years. Covered financial institutions
comments will become a matter of www.regulations.gov. Follow the may satisfy these requirements by using
public record. Comments are invited on: instructions for submitting comments. their internal records management
(a) Whether the collection of Refer to Docket Number FINCEN–2017– system.
information is necessary for the proper Current Action: Renewal without
0011 and the specific OMB control
performance of the functions of the change to the existing regulations.
number affected. Type of Review: Extension of
agency, including whether the • Mail: Policy Division, Financial
information shall have practical utility; currently approved reporting
Crimes Enforcement Network, P.O. Box
(b) the accuracy of the agency’s estimate requirement.
39, Vienna, VA 22183. Refer to Docket Affected Public: Businesses or other
of the burden of the collection of Number FINCEN–2017–0011 and the
information; (c) ways to enhance the for-profit institutions, and non-profit
specific OMB control number affected. institutions.
quality, utility, and clarity of the Please submit comments by one
information to be collected; (d) ways to Burden: The administrative burden of
method only. All comments submitted 1 hour is assigned to maintain the
minimize the burden of the collection of in response to this notice will become
information on respondents, including requirement in force. The burden for
a matter of public record. Therefore, you actual reporting is reflected in OMB
through the use of automated collection should submit only information that
techniques or other forms of information Control number 1506–0065.
you wish to make publicly available. 2. Title: Suspicious Activity Report by
technology; and (e) estimates of capital FOR FURTHER INFORMATION CONTACT: The
or start-up costs and costs of operation, Insurance Companies.
FinCEN Resource Center at 800–767– OMB Number: 1506–0029.
maintenance and purchase of services to 2825 or electronically at frc@fincen.gov. Abstract: In accordance with 31 CFR
provide information.
SUPPLEMENTARY INFORMATION: The BSA, 1025.320, covered financial institutions
Dated: February 5, 2018. Titles I and II of Public Law 91–508, as are required to report suspicious activity
Jamal El-Hindi, amended, codified at 12 U.S.C. 1829(b), and maintain the records for a period of
Deputy Director, Financial Crimes 12 U.S.C.1951–1959, and 31 U.S.C. five years. Covered financial institutions
Enforcement Network. 5311–5332, authorizes the Secretary of may satisfy these requirements by using
[FR Doc. 2018–02584 Filed 2–8–18; 8:45 am] the Treasury, among other things, to their internal records management
BILLING CODE 4810–02–P require financial institutions to keep system.
records and file reports that are Current Action: Renewal without
determined to have a high degree of change to the existing regulations.
DEPARTMENT OF THE TREASURY usefulness in criminal, tax, and Type of Review: Extension of
regulatory matters, or in the conduct of currently approved reporting
Financial Crimes Enforcement Network intelligence or counter-intelligence requirement.
activities to protect against international Affected Public: Businesses or other
Agency Information Collection for-profit institutions, and non-profit
terrorism, and to implement counter-
Activities; Comment Request; Renewal institutions.
money laundering programs and
Without Change of Bank Secrecy Act Burden: The administrative burden of
compliance procedures.1 Regulations
Regulations Requiring Depository 1 hour is assigned to maintain the
implementing Title II of the BSA appear
Institutions and Insurance Companies requirement in force. The burden for
at 31 CFR Chapter X. The authority of
To Report Suspicious Activity actual reporting is reflected in OMB
the Secretary of the Treasury to
AGENCY: Financial Crimes Enforcement administer the BSA has been delegated Control number 1506–0065.
Network (‘‘FinCEN’’), U.S. Department to the Director of FinCEN. The The following paragraph applies to
of the Treasury. information collected and retained the reporting and recordkeeping
requirements addressed in this notice.
sradovich on DSK3GMQ082PROD with NOTICES
ACTION: Notice and request for under the regulation addressed in this
comments. An agency may not conduct or sponsor,
1 Language expanding the scope of the Bank and a person is not required to respond
SUMMARY: FinCEN, a bureau of the U.S. Secrecy Act to intelligence or counter-intelligence to, a collection of information unless the
Department of the Treasury activities to protect against international terrorism collection of information displays a
was added by Section 358 of the Uniting and
(‘‘Treasury’’), invites all interested Strengthening America by Providing Appropriate
valid OMB control number. Records
parties to comment on its proposed Tools Required to Intercept and Obstruct Terrorism required to be retained under the BSA
renewal without change of the Bank Act of 2001, Public Law 107–56. must be retained for five years.
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Document Created: 2018-02-09 00:11:57
Document Modified: 2018-02-09 00:11:57
| Category | Regulatory Information | |
| Collection | Federal Register | |
| sudoc Class | AE 2.7: GS 4.107: AE 2.106: | |
| Publisher | Office of the Federal Register, National Archives and Records Administration | |
| Section | Notices | |
| Action | Notice and request for comments. | |
| Dates | Written comments should be received on or before April 10, 2018 to be assured of consideration. | |
| Contact | The FinCEN Resource Center at 800-767- 2825 or electronically at frc[email protected] | |
| FR Citation | 83 FR 5828 |
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