83 FR 5829 - Agency Information Collection Activities; Comment Request; Renewal Without Change of Bank Secrecy Act Regulations Requiring Depository Institutions and Insurance Companies To Report Suspicious Activity

DEPARTMENT OF THE TREASURY
Financial Crimes Enforcement Network

Federal Register Volume 83, Issue 28 (February 9, 2018)

Page Range		5829-5830
FR Document		2018-02583

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'') Suspicious Activity Reporting regulations for certain financial institutions, i.e., depository institutions and insurance companies. FinCEN intends to submit these requirements for approval by the Office of Management and Budget (``OMB'') of a three-year extension of Control Numbers 1506-0001, and 1506-0029. This request for comments is made pursuant to the Paperwork Reduction Act (``PRA'') of 1995.

Federal Register, Volume 83 Issue 28 (Friday, February 9, 2018)

[Federal Register Volume 83, Number 28 (Friday, February 9, 2018)]
[Notices]
[Pages 5829-5830]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2018-02583]


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DEPARTMENT OF THE TREASURY

Financial Crimes Enforcement Network


Agency Information Collection Activities; Comment Request; 
Renewal Without Change of Bank Secrecy Act Regulations Requiring 
Depository Institutions and Insurance Companies To Report Suspicious 
Activity

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'') 
Suspicious Activity Reporting regulations for certain financial 
institutions, i.e., depository institutions and insurance companies. 
FinCEN intends to submit these requirements for approval by the Office 
of Management and Budget (``OMB'') of a three-year extension of Control 
Numbers 1506-0001, and 1506-0029. 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-2017-0011 and the specific OMB control number affected.
     Mail: Policy Division, Financial Crimes Enforcement 
Network, P.O. Box 39, Vienna, VA 22183. Refer to Docket Number FINCEN-
2017-0011 and the specific 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 Bank Secrecy Act 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.
---------------------------------------------------------------------------

    1. Title: Suspicious Activity Report by Depository Institutions.
    OMB Number: 1506-0001.
    Abstract: In accordance with 31 CFR 1020.320, covered financial 
institutions are required to report suspicious activity 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 reporting 
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 1506-0065.
    2. Title: Suspicious Activity Report by Insurance Companies.
    OMB Number: 1506-0029.
    Abstract: In accordance with 31 CFR 1025.320, covered financial 
institutions are required to report suspicious activity 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 reporting 
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 1506-0065.
    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.

[[Page 5830]]

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. 2018-02583 Filed 2-8-18; 8:45 am]
 BILLING CODE 4810-02-P

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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5830 Federal Register / Vol. 83, No. 28 / Friday, February 9, 2018 / Notices

Generally, information collected through the use of automated collection ACTION: Notice.
pursuant to the BSA is confidential, but techniques or other forms of information
may be shared, as provided, by law with technology; and (e) estimates of capital SUMMARY: This notice is provided in
regulatory and law enforcement or start-up costs and costs of operation, accordance with IRC section 6039G of
authorities. maintenance and purchase of services to the Health Insurance Portability and
Request for Comments: Comments provide information. Accountability Act (HIPPA) of 1996, as
submitted in response to this notice will Dated: February 5, 2018. amended. This listing contains the name
be summarized and/or included in the Jamal El-Hindi, of each individual losing United States
request for OMB approval. All Deputy Director, Financial Crimes citizenship (within the meaning of
comments will become a matter of Enforcement Network. section 877(a) or 877A) with respect to
public record. Comments are invited on: [FR Doc. 2018–02583 Filed 2–8–18; 8:45 am] whom the Secretary received
(a) Whether the collection of BILLING CODE 4810–02–P information during the quarter ending
information is necessary for the proper December 31, 2017. For purposes of this
performance of the functions of the listing, long-term residents, as defined
agency, including whether the DEPARTMENT OF THE TREASURY in section 877(e)(2), are treated as if they
information shall have practical utility; were citizens of the United States who
(b) the accuracy of the agency’s estimate Internal Revenue Service
lost citizenship.
of the burden of the collection of
Quarterly Publication of Individuals,
information; (c) ways to enhance the
Who Have Chosen To Expatriate, as
quality, utility, and clarity of the
Required by Section 6039G
information to be collected; (d) ways to
minimize the burden of the collection of AGENCY: Internal Revenue Service (IRS),
information on respondents, including Treasury.

Last name First name Middle name/initials

AAROE ............................................................... ALEXANDER .................................................... TROXLER
AARON .............................................................. BERNARD ........................................................ SAMUEL
ABBOTT ............................................................. KATHERINE ..................................................... ELISE
ABE .................................................................... DAISUKE
ABEND ............................................................... LINDA ............................................................... ESCHENBACH
ABORD DE CHATILLON ................................... HENRI
ABOUSLEIMAN ................................................. RANDA
ABUGHAZALEH ................................................ HANI ................................................................. MAHER
ADAMS .............................................................. PAUL ................................................................ EDWARD
ADAMS .............................................................. TAMARACK ..................................................... LYNN
ADAMS-GN ........................................................ DOROTHY ....................................................... WAN PIO
ADLER ............................................................... KRISTEN .......................................................... ELIZABETH
AEBI ................................................................... CHRISTIAN ...................................................... LUC
ALBERT ............................................................. MICHELLE
AL-DOSSARY .................................................... RAIED .............................................................. IBRAHIM
ALLEN ................................................................ ALEXANDRA .................................................... SANDY
ALLEN ................................................................ KATY ................................................................ ELIZABETH
ALLEN ................................................................ THOMAS .......................................................... MARK
AL-THANI ........................................................... ABDULAZIZ ...................................................... SAOUD
ALTMANN .......................................................... ARYEH ............................................................. SALOMON
ANDERS ............................................................ LAURA ............................................................. ELIZABETH
ANDERSON ....................................................... ABBE ................................................................ LANE
ANDERSON ....................................................... CHRISTINE ...................................................... DIANE
ANG ................................................................... JOHN ................................................................ WEI-EN
ANGLIN .............................................................. GAIL ................................................................. PANTLEY
ANSEL ............................................................... CLIFFORD
ANSEL ............................................................... REBECCA ........................................................ LIBA
ANZAI ................................................................. AMANDA .......................................................... KIM
ANZAI ................................................................. HIROYUKI
ANZAI ................................................................. RYAN ............................................................... HIRO
ANZAI ................................................................. TAIGA ............................................................... KIM
ARCEMENT ....................................................... GREGORY ....................................................... WORTHY
AREITIO ............................................................. ALEXANDRA .................................................... LUISA
ARGYROS ......................................................... SANDRA
ARONSON ......................................................... BARR ............................................................... SHMUEL
ARORA .............................................................. RUPINDER ....................................................... KAUR
ARRABI .............................................................. IMAD ................................................................ AHMAD
ARRABI .............................................................. LEILA ................................................................ MOHAMED
ARSENAULT ...................................................... ADELE .............................................................. HELENE
sradovich on DSK3GMQ082PROD with NOTICES

ARTEAGA .......................................................... CHRISTOPHER ............................................... JON
AYLEN ............................................................... CARL ................................................................ ARTHUR WILLIAM
AYLEN ............................................................... MARITA ............................................................ FRANCES
BACKHOUSE ..................................................... HAZEL .............................................................. MARY
BAKER ............................................................... CONSTANCE ................................................... JOHANNA
BARAKAT .......................................................... YUSRA ............................................................. WALEED
BARIBEAU ......................................................... JUDITH ............................................................. EDNA
BARRIGA ........................................................... PABLO

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Document Created: 2018-02-09 00:11:53
Document Modified: 2018-02-09 00:11:53

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 [email protected]
FR Citation		83 FR 5829

83 FR 5829 - Agency Information Collection Activities; Comment Request; Renewal Without Change of Bank Secrecy Act Regulations Requiring Depository Institutions and Insurance Companies To Report Suspicious Activity

DEPARTMENT OF THE TREASURYFinancial Crimes Enforcement Network

Federal Register Volume 83, Issue 28 (February 9, 2018)

DEPARTMENT OF THE TREASURY
Financial Crimes Enforcement Network