[Federal Register Volume 84, Number 87 (Monday, May 6, 2019)]
[Notices]
[Pages 19825-19826]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-09135]
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DEPARTMENT OF THE TREASURY
Office of the Comptroller of the Currency
Agency Information Collection Activities: Information Collection
Renewal; Comment Request; Minimum Security Devices and Procedures,
Reports of Suspicious Activities, and Bank Secrecy Act Compliance
Program
AGENCY: Office of the Comptroller of the Currency (OCC), Department of
the Treasury.
ACTION: Notice and request for comments.
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SUMMARY: The OCC, as part of its continuing effort to reduce paperwork
and respondent burden, invites the general public and other federal
agencies to take this opportunity to comment on information collections
as required by the Paperwork Reduction Act of 1995 (PRA).
In accordance with the requirements of the PRA, the OCC may not
conduct or sponsor, and the respondent is not required to respond to,
an information collection unless it displays a currently valid Office
of Management and Budget (OMB) control number.
The OCC is soliciting comment concerning renewal of its information
collection titled, ``Minimum Security Devices and Procedures, Reports
of Suspicious Activities, and Bank Secrecy Act Compliance Program.''
DATES: Written comments should be received on or before July 5, 2019.
ADDRESSES: Commenters are encouraged to submit comments by email, if
possible. You may submit comments by any of the following methods:
Email: [email protected].
Mail: Chief Counsel's Office, Attention: Comment
Processing, Office of the Comptroller of the Currency, Attention: 1557-
0180, 400 7th Street SW, Suite 3E-218, Washington, DC 20219.
Hand Delivery/Courier: 400 7th Street SW, Suite 3E-218,
Washington, DC 20219.
Fax: (571) 465-4326.
Instructions: You must include ``OCC'' as the agency name and
``1557-0180'' in your comment. In general, the OCC will publish your
comment on www.reginfo.gov without change, including any business or
personal information that you provide, such as name and address
information, email addresses, or phone numbers. Comments received,
including attachments and other supporting materials, are part of the
public record and subject to public disclosure. Do not include any
information in your comment or supporting materials that you consider
confidential or inappropriate for public disclosure.
You may review comments and other related materials that pertain to
this information collection beginning on the date of publication of the
second notice for this collection\1\ by any of the following methods:
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\1\ Following the close of the 60-day comment period for this
notice, the OCC will publish a notice for 30 days of comment for
this collection.
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Viewing Comments Electronically: Go to www.reginfo.gov.
Click on the ``Information Collection Review'' tab. Underneath the
``Currently under Review'' section heading, from the drop-down menu
select ``Department of Treasury'' and then click ``submit.'' This
information collection can be located by searching by OMB control
number ``1557-0180'' or ``Minimum Security Devices and Procedures,
Reports of Suspicious Activities, and Bank Secrecy Act Compliance
Program.'' Upon finding the appropriate information collection, click
on the related ``ICR Reference Number.'' On the next screen, select
``View Supporting Statement and Other Documents'' and then click on the
link to any comment listed at the bottom of the screen.
For assistance in navigating www.reginfo.gov, please
contact the Regulatory Information Service Center at (202) 482-7340.
Viewing Comments Personally: You may personally inspect
comments at the OCC, 400 7th Street SW, Washington, DC. For security
reasons, the OCC requires that visitors make an appointment to inspect
comments. You may do so by calling (202) 649-6700 or, for persons who
are deaf or hearing impaired, TTY, (202) 649-5597. Upon arrival,
visitors will be required to present valid government-issued photo
identification and submit to security screening in order to inspect
comments.
FOR FURTHER INFORMATION CONTACT: Shaquita Merritt, OCC Clearance
Officer, Chief Counsel's Office, (202) 649-5490 or, for persons who are
deaf or hearing impaired, TTY, (202) 649-5597, Office of the
Comptroller of the Currency, Washington, DC 20219.
SUPPLEMENTARY INFORMATION: Under the PRA (44 U.S.C. 3501-3520), federal
agencies must obtain approval from the OMB for each collection of
information they conduct or sponsor. ``Collection of information'' is
defined in 44 U.S.C. 3502(3) and 5 CFR 1320.3(c) to include agency
requests or requirements that members of the public submit reports,
keep records, or provide information to
[[Page 19826]]
a third party. Section 3506(c)(2)(A) of title 44 requires federal
agencies to provide a 60-day notice in the Federal Register concerning
each proposed collection of information, including each proposed
extension of an existing collection of information, before submitting
the collection to OMB for approval. To comply with this requirement,
the OCC is publishing notice of the proposed collection of information
set forth in this document.
Title: Minimum Security Devices and Procedures, Reports of
Suspicious Activities, and Bank Secrecy Act Compliance Program.
OMB Control No.: 1557-0180.
Form Numbers: 8010-1/8010-9.
Abstract:
Minimum Security Devices and Procedures: Under 12 CFR 21.2, 21.4,
168.2, and 168.4, national banks and savings associations are required
to designate a security officer who must develop and administer a
written security program. The security officer shall report at least
annually to the institution's board of directors on the effectiveness
of the security program. The substance of the report shall be reflected
in the board's minutes. These requirements ensure that the security
officer is responsible for the security program and that institution
management and the board of directors are aware of the content and
effectiveness of the program. These requirements also ensure prudent
institution management and institution safety and soundness.
Suspicious Activity Report (SAR): In 1992, the Department of the
Treasury was granted broad authority to require suspicious transaction
reporting under the Bank Secrecy Act (BSA). See, 31 U.S.C. 5318(g). The
Financial Crimes Enforcement Network (FinCEN), which has been delegated
the authority to administer the BSA, joined with the bank regulators in
1996 in requiring, on a consolidated form (i.e., SAR), reports of
suspicious transactions. See, 31 CFR 1020.320(a) (formerly 31 CFR
103.18(a)). The filing of SARs is necessary to prevent and detect
crimes involving depository institution funds, institution insiders,
criminal transactions, and money laundering. These requirements are
necessary to ensure institution safety and soundness.
Banks and savings associations are required to maintain a copy of
any SAR filed and the original or business record equivalent of any
supporting documentation for a period of five years. The documents are
necessary for criminal investigations and prosecutions.
FinCEN and the Federal financial institution supervisory agencies
\2\ adopted the SAR form to simplify the process through which
depository institutions inform their regulators and law enforcement
about suspected criminal activity. The SAR form was updated in 1998,
2000, 2003, 2006, 2011, 2012, 2015, and 2018.
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\2\ The Federal financial institution supervisory agencies are
the Office of the Comptroller of the Currency (OCC), Board of
Governors of the Federal Reserve System (Board), Federal Deposit
Insurance Corporation (FDIC), and National Credit Union
Administration (NCUA). The Office of Thrift Supervision, which was
in existence at the time the SAR was adopted, was merged into the
OCC in 2011.
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Procedures for Monitoring Bank Secrecy Act Compliance: Under 12 CFR
21.21, national banks and savings associations are required to develop
and provide for the continued administration of a program reasonably
designed to assure and monitor their compliance with the BSA and
applicable Treasury regulations. The compliance program must be in
writing, approved by the board of directors, and reflected in the
minutes of the national bank or savings association. These requirements
are necessary to ensure institution compliance with the BSA and
applicable Treasury regulations.
Type of Review: Regular.
Affected Public: Business, for-profit institutions, and non-profit.
Estimated Number of Respondents: 1,233.
Estimated Total Annual Burden: 615,130 hours.
Comments submitted in response to this notice will be summarized
and 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 OCC, including whether the
information shall have practical utility;
(b) The accuracy of the OCC'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: April 30, 2019.
Theodore J. Dowd,
Deputy Chief Counsel, Office of the Comptroller of the Currency.
[FR Doc. 2019-09135 Filed 5-3-19; 8:45 am]
BILLING CODE 4810-33-P