[Federal Register Volume 71, Number 150 (Friday, August 4, 2006)]
[Notices]
[Pages 44351-44352]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E6-12583]


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DEPARTMENT OF THE TREASURY


Financial Crimes Enforcement Network; Proposed Collection; 
Comment Request; Currency Transaction Report by Casinos--Nevada

AGENCY: Department of the Treasury, Financial Crimes Enforcement 
Network.

ACTION: Notice and request for comments.

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SUMMARY: As part of its continuing effort to reduce paperwork and 
respondent burden, the Financial Crimes Enforcement Network invites 
comment on a proposed extension, without change, of an existing 
information collection requirement contained in the form ``Currency 
Transaction Report by Casinos--Nevada, FinCEN Form 103-N.'' This 
request for comments is being made pursuant to the Paperwork Reduction 
Act of 1995, Public Law 104-13, 44 U.S.C. 3506(c)(2)(A).

DATES: Written comments are welcome and must be received on or before 
October 3, 2006.

ADDRESSES: Written comments should be submitted to: Financial Crimes 
Enforcement Network, Department of the Treasury, P.O. Box 39, Vienna, 
VA 22183, Attention: Paperwork Reduction Act Comments--Currency 
Transaction Report by Casinos--Nevada Form. Comments also may be 
submitted by electronic mail to the following Internet address: 
[email protected], again with a caption, in the body of the text, 
``Attention: Paperwork Reduction Act Comments--Currency Transaction 
Report by Casinos--Nevada Form.''
    Inspection of comments. Comments may be inspected, between 10 a.m. 
and 4 p.m., in the Financial Crimes Enforcement Network reading room in 
Washington, DC. Persons wishing to inspect the comments submitted must 
request an appointment by telephoning (202) 354-6400 (not a toll free 
number).

FOR FURTHER INFORMATION CONTACT: Financial Crimes Enforcement Network, 
Regulatory Policy and Programs Division at (800) 949-2732.

SUPPLEMENTARY INFORMATION:
    Title: Currency Transaction Report by Casinos--Nevada.
    OMB Number: 1506-0003.
    Form Number: FinCEN Form 103-N.
    Abstract: The statute generally referred to as the ``Bank Secrecy 
Act,'' Titles I and II of Public Law 91-508, as amended, codified at 12 
U.S.C. 1829b, 12 U.S.C. 1951-1959, and 31 U.S.C. 5311-5332, authorizes 
the Secretary of the Treasury, inter alia, 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 Bank Secrecy 
Act appear at 31 CFR part 103. The authority of the Secretary of the 
Treasury to administer the Bank Secrecy Act has been delegated to the 
Director of the Financial Crimes Enforcement Network.
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    \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 (USA PATRIOT) Act of 2001, Public 
Law 107-56.
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    Section 5313(a) of the Bank Secrecy Act authorizes the Secretary of 
the Treasury to issue regulations that require a report when ``a 
domestic financial institution is involved in a transaction for the 
payment, receipt, or transfer of United States coins or currency (or 
other monetary instruments the Secretary of the Treasury prescribes), 
in an amount, denomination, or amount and denomination, or under 
circumstances the Secretary prescribes by regulation * * *'' 
Regulations implementing section 5313(a) are found at 31 CFR 103.22. In 
general, the regulations require the reporting of transactions in 
currency in excess of $10,000 a day. Casinos, as defined in 31 U.S.C. 
5312(a)(2)(X) and 31 CFR 103.11(n)(5)(i), are financial institutions 
subject to the currency transaction reporting requirement. (See 63 FR 
1919, January 13, 1998.) The Currency Transaction Report by Casinos--
Nevada, FinCEN Form 103-N, is the form that casinos in Nevada use to 
comply with the currency transaction reporting requirements. All Nevada 
casinos having gross annual gaming revenues in excess of $10 million 
and having annual table games statistical win in excess of $2 million, 
or having actual or projected annual gross gaming revenue in excess of 
$1 million that the Chairman of the Nevada Gaming Control Commission 
directs to do so, are required to file Currency Transaction Report by 
Casinos--Nevada, FinCEN Form 103-N, pursuant to Nevada Gaming 
Commission Regulation 6A (``Regulation 6A''), entitled ``Cash 
Transactions Prohibitions, Reporting, and Recordkeeping.'' Nevada 
casinos comply with Regulation 6A in lieu of 31 U.S.C. 5313(a) and 31 
CFR 103.22 based upon an exemption granted to the state of Nevada by 
the Department of the Treasury.
    The Currency Transaction Report by Casinos--Nevada is available for 
review on the Financial Crimes Enforcement Web site at http://www.fincen.gov/forms/fin103n_ctrc-n.pdf.
    Type of Review: Extension, without change, of an approved 
information collection.
    Affected Public: Business or other for-profit institutions.
    Frequency: As required.
    Estimated Burden: Reporting average of 19 minutes per response. 
Form recordkeeping average of 5 minutes per response, for a total of 24 
minutes.
    Estimated Number of Respondents: 115.
    Estimated Total Annual Responses: 137,000.
    Estimated Total Annual Burden Hours: 54,800.
    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 Office of Management and Budget control 
number. Records required to be retained under the Bank Secrecy Act must 
be retained for five years.
    Request for Comments:
    Comments submitted in response to this notice will be summarized 
and/or included in the request for Office of Management and Budget 
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

[[Page 44352]]

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: July 28, 2006.
Robert W. Werner,
Director, Financial Crimes Enforcement Network.
 [FR Doc. E6-12583 Filed 8-3-06; 8:45 am]
BILLING CODE 4810-02-P