[Federal Register Volume 79, Number 181 (Thursday, September 18, 2014)]
[Notices]
[Pages 56123-56125]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2014-22225]


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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 Suspicious Activity and 
Currency Transaction Reporting Requirements

AGENCY: Financial Crimes Enforcement Network (``FinCEN''), U.S. 
Department of the Treasury.

ACTION: Notice and request for comments.

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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 requirements for certain financial 
institutions, i.e., depository institutions, casinos and card clubs, 
and insurance companies. This notice also proposes to renew without 
change the Currency Transaction Reporting requirement 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, and 
casinos and card clubs. 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, 1506-0004, 1506-0005, 
1506-0006, and 1506-0029. This request for comments is made pursuant to 
the Paperwork Reduction Act

[[Page 56124]]

(``PRA'') of 1995, Public Law 104-13, 44 U.S.C. 3506(c)(2)(A).

DATES: Written comments should be received on or before November 17, 
2014 to be assured of consideration.

ADDRESSES: Written comments should be submitted to: Policy Division, 
Financial Crimes Enforcement Network, U.S. Department of the Treasury, 
P.O. Box 39, Vienna, VA 22183. Attention: PRA Comments--BSA Suspicious 
Activity and Currency Transaction Reporting Requirements. Please cite 
specific OMB Control Number(s) listed above when commenting. 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--BSA Suspicious Activity and Currency 
Transaction Reporting Requirements.'' Please cite specific OMB Control 
Number(s) listed above when commenting.
    Instructions. It is preferable for comments to be submitted by 
electronic mail. Please submit comments by one method only. All 
submissions received must include the agency name and the specific OMB 
control number for this notice.
    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: The FinCEN Resource Center at 800-767-
2825 or email [email protected].

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.
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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 Act of 2001, Public Law 107-56.
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    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 Casinos and Card Clubs.
    OMB Number: 1506-0006.
    Abstract: In accordance with 31 CFR 1021.320, 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.
    3. 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.
    4. 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 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 1506-0064.
    5. Title: Currency Transaction Report by Casinos and Card Clubs.
    OMB Number: 1506-0005.
    Abstract: In accordance with 31 CFR 1021.310, 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 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 1506-0064.

[[Page 56125]]

    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: September 11, 2014.
Jennifer Shasky Calvery,
Director, Financial Crimes Enforcement Network.
[FR Doc. 2014-22225 Filed 9-17-14; 8:45 am]
BILLING CODE 4810-02-P