[Federal Register Volume 66, Number 205 (Tuesday, October 23, 2001)]
[Notices]
[Pages 53655-53656]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 01-26582]


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DEPARTMENT OF THE TREASURY


Financial Crimes Enforcement Network; Agency Information 
Collection Activities; Proposed Collection; Comment Request

AGENCY: Financial Crimes Enforcement Network (``FinCEN''), Treasury.

ACTION: Notice and request for comments.

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SUMMARY: In order to comply with the requirements of the Paperwork 
Reduction Act of 1995, FinCEN intends to submit the information 
collection addressed in this notice for a three-year extension of 
approval by the Office of Management and Budget (``OMB''). Prior to 
submission of the extension request, FinCEN is soliciting comment on 
the information collection in FinCEN Issuance 98-1, as extended (the 
conditional exception to the application of 31 CFR 103.33(g)).

DATES: Written comments should be received on or before December 24, 
2001 to be assured of consideration.

ADDRESSES: Direct all written comments to: Office of Chief Counsel, 
Financial Crimes Enforcement Network, Department of the Treasury, P.O. 
Box 1618, Vienna, VA 22183-1618, Attention: PRA Comments--CIF 
Exception. Comments also may be submitted by electronic mail to the 
following Internet address: ``[email protected]'' with the 
caption in the body of the text,``Attention: PRA Comments--CIF 
Exception.''

FOR FURTHER INFORMATION CONTACT: Requests for additional information 
should be directed to Stacie A. Larson (703) 905-3590, Office of Chief 
Counsel, FinCEN, or Cynthia L. Clark, Deputy Chief Counsel, FinCEN 
(703) 905-3590. A copy of the issuance may be obtained from http://www.access.gop.gov/su_docs/aces/aces140.html.

SUPPLEMENTARY INFORMATION: The Bank Secrecy Act, Titles I and II of 
Pub. L. 91-508, as amended, codified at 12 U.S.C. 1829b, 12 U.S.C. 
1951-1959, and 31 U.S.C. 5311-5330, authorizes the Secretary of the 
Treasury, inter alia, to issue regulations requiring records and 
reports that are determined to have a high degree of usefulness in 
criminal, tax, and regulatory matters. Regulations implementing Title 
II of the Bank Secrecy Act (codified at 31 U.S.C. 5311-5330) appear at 
31 CFR part 103. The authority of the Secretary to administer Title II 
of the Bank Secrecy Act has been delegated to the Director of FinCEN.
    In accordance with the requirements of the Paperwork Reduction Act 
of 1995, 44 U.S.C. 3506(c)(2)(A), and its implementing regulations, the 
following information is presented concerning the information 
collections below. An agency may not conduct or sponsor, and a person 
is not required to respond to, a collection of information unless it 
displays a valid control number assigned by OMB.
    Title: Conditional Exception to the Application of 31 CFR 
103.33(g).
    OMB Number: 1506-0008.
    Abstract: Under 31 CFR 103.33(g) (the ``Travel Rule'') financial 
institutions must include certain information in transmittal orders 
relating to the transmittal of funds of $3,000 or more. In 1998, FinCEN 
granted a conditional exception (the ``CIF Exception'')\1\ to the 
strict operation of the Travel Rule.\2\ The CIF exception requires, 
among other things, that a financial institution include on a 
transmittal order a question mark (``?'') after the name on the 
transmittal order whenever that name is other than the transmittor's 
true name.
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    \1\ FinCEN Issuance 98-1, 63 FR 3640, January 26, 1998.
    \2\ FinCEN extended the CIF Exception in 1999 (FinCEN Issuance 
99-1, 64 FR 41041, July 29, 1999) and again in 2001 (FinCEN Issuance 
2001-1, 66 FR 32746, June 18, 2001).
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    The information collection addressed in this notice is mandatory. 
The use of the question mark symbol after a name that is not the true 
name of the transmittor will assist law enforcement authorities in the 
prevention and detection of money laundering. If a transmittal order is 
being examined by a law enforcement agency and the question mark symbol 
is included, the agency will then know to ask the financial institution 
for the transmittor's true name. All records required to be maintained 
under the BSA must be retained for five years.
    Current Action: There is no change to the existing information 
collection.
    Type of Review: Extension of a currently approved information 
collection.
    Affected Public: Businesses or for-profit institutions, and non-
profit institutions.

[[Page 53656]]

    Burden: The estimated number of transmittal numbers with the 
question mark symbol is 5,000. The estimated annual reporting burden is 
250 hours, and the estimated annual recordkeeping burden is 1,250 
hours.
    FinCEN specifically invites comments on the following subjects: (a) 
Whether the proposed collection of information is necessary for the 
proper performance of the mission of FinCEN, including whether the 
information shall have practical utility; (b) the accuracy of FinCEN'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; (e) 
estimates of capital or start-up costs and costs of operation, 
maintenance, and purchase of services to provide information.
    Comments concerning the accuracy of the burden estimate and 
suggestions for reducing the burden should be directed to the Office of 
Management and Budget, Attention: Desk Officer for the Treasury 
Department, Office of Information and Regulatory Affairs, Washington, 
DC 20503.

    Dated: October 16, 2001.
James F. Sloan,
Director, Financial Crimes Enforcement Network.
[FR Doc. 01-26582 Filed 10-22-01; 8:45 am]
BILLING CODE 4820-03-P