[Federal Register Volume 75, Number 115 (Wednesday, June 16, 2010)]
[Notices]
[Page 34215]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2010-14433]


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DEPARTMENT OF THE TREASURY

Financial Crimes Enforcement Network


Proposed Renewal Without Change; Comment Request; Imposition of 
Special Measure Against Commercial Bank of Syria, Including Its 
Subsidiary Syrian Lebanese Commercial Bank, as a Financial Institution 
of Primary Money Laundering Concern

AGENCY: Financial Crimes Enforcement Network, Treasury.

ACTION: Notice and request for comments.

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SUMMARY: As part of our continuing effort to reduce paperwork and 
respondent burden, we invite comment on a proposed renewal, without 
change, to information collection requirements found in existing 
regulations imposing the imposition of a special measure against the 
Commercial Bank of Syria, including its subsidiary Syrian Lebanese 
Commercial Bank, as a financial institution of primary money laundering 
concern. 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 
August 16, 2010.

ADDRESSES: Written comments should be submitted to: Financial Crimes 
Enforcement Network, P.O. Box 39, Vienna, VA 22183, Attention: Comment 
Request; Imposition of Special Measure against Commercial Bank of 
Syria. 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: Comment Request; 
Imposition of Special Measure against Commercial Bank of Syria.''
    Inspection of comments: Comments may be inspected, between 10 a.m. 
and 4 p.m., in the FinCEN reading room in Vienna, VA. Persons wishing 
to inspect the comments submitted must request an appointment with the 
Disclosure Officer by telephoning (703) 905-5034 (not a toll free 
call).

FOR FURTHER INFORMATION CONTACT: Financial Crimes Enforcement Network, 
Regulatory Policy and Programs Division at (800) 949-2732. Select 
option 6.

SUPPLEMENTARY INFORMATION: 
    Abstract: The Director of the Financial Crimes Enforcement Network 
is the delegated administrator of the Bank Secrecy Act. The Act 
authorizes the Director to issue regulations to require all financial 
institutions defined as such pursuant to the Act to maintain or file 
certain reports or records that have been determined to have a high 
degree of usefulness in criminal, tax, or regulatory investigations or 
proceedings, or in the conduct of intelligence or counter-intelligence 
activities, including analysis, to protect against international 
terrorism.\1\
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    \1\ Public Law 91-508, as amended and codified at 12 U.S.C. 
1829b, 12 U.S.C. 1951-1959 and 31 U.S.C. 5311-5332. 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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    Regulations implementing section 5318A of title 31, United States 
Code can be found in part at 31 CFR 103.188. In general, the 
regulations require covered financial institutions to establish, 
document, and maintain programs as an aid in protecting and securing 
the U.S. financial system.
    Title: Imposition of Special Measure against Commercial Bank of 
Syria, Including its Subsidiary Syrian Lebanese Commercial Bank, as a 
Financial Institution of Primary Money Laundering Concern.
    Office of Management and Budget Control Number: 1506-0036.
    Abstract: The Financial Crimes Enforcement Network is issuing this 
notice to renew the imposition of a special measure against the 
Commercial Bank of Syria, including its subsidiary Syrian Lebanese 
Commercial Bank, as a financial institution of primary money laundering 
concern, pursuant to the authority contained in 31 U.S.C. 5318A.
    Current Action: Renewal without change to existing regulations.
    Type of Review: Extension of a currently approved information 
collection.
    Affected Public: Business and certain not-for-profit institutions.
    Burden:
    Estimated Number of Respondents: 5000.
    Estimated Number of Responses: 5000.
    Estimated Number of Hours: 5000. (Estimated at one hour per 
respondent).
    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 the Office of Management and Budget. Records 
required to be retained under the Bank Secrecy Act must be retained for 
five years. Generally, information collected pursuant to the Bank 
Secrecy Act 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 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 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: June 8, 2010.
James H. Freis, Jr.,
Director, Financial Crimes Enforcement Network.
[FR Doc. 2010-14433 Filed 6-15-10; 8:45 am]
BILLING CODE 4810-02-P