[Federal Register Volume 89, Number 125 (Friday, June 28, 2024)]
[Notices]
[Pages 54162-54163]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-14296]


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DEPARTMENT OF THE TREASURY


Agency Information Collection Activities; Submission for OMB 
Review; Comment Request; Multiple Financial Crimes Enforcement Network 
Information Collection Requests

AGENCY: Departmental Offices, Department of the Treasury.

ACTION: Notice of information collection; request for comment.

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SUMMARY: The Department of the Treasury will submit the following 
information collection requests to the Office of Management and Budget 
(OMB) for review and clearance in accordance with the Paperwork 
Reduction Act of 1995, on or after the date of publication of this 
notice. The public is invited to submit comments on these requests.

DATES: Comments should be received on or before July 29, 2024 to be 
assured of consideration.

ADDRESSES: Written comments and recommendations for the proposed 
information collection should be sent within 30 days of publication of 
this notice to www.reginfo.gov/public/do/PRAMain. Find this particular 
information collection by selecting ``Currently under 30-day Review--
Open for Public Comments'' or by using the search function.

FOR FURTHER INFORMATION CONTACT: Copies of the submissions may be 
obtained from Spencer W. Clark by emailing [email protected], calling 
(202) 927-5331, or viewing the entire information collection request at 
www.reginfo.gov.

SUPPLEMENTARY INFORMATION:

Financial Crimes Enforcement Network (FinCEN)

    1. Title: Anti-Money Laundering Programs for Money Services 
Businesses, Mutual Funds, and Operators of Credit Card Systems.
    OMB Control Number: 1506-0020.
    Type of Review: Extension without change of a currently approved 
collection.
    Description: Section 352 of the USA PATRIOT Act added subsection 
(h) to 31 U.S.C. 5318 of the BSA that requires the Secretary of the 
Treasury to require financial institutions to establish and maintain 
anti-money laundering (``AML'') programs. Pursuant to section 352, 
FinCEN issued regulations requiring money services businesses 
(``MSBs''), mutual funds, and operators of credit card systems to 
develop and implement a written AML program, respectively 31 CFR 
1022.210, 31 CFR 1024.210, and 31 CFR 1028.210. The program must be 
reasonably designed to prevent these financial institutions from being 
used for money laundering or the financing of terrorist activities, and 
to achieve and monitor compliance with applicable BSA requirements.
    Form: None.
    Affected Public: Businesses or other for-profits.
    Estimated Number of Respondents: 258,065.
    Frequency of Response: On occasion.
    Estimated Total Number of Annual Responses: 2,853,697.
    Estimated Time per Response: Varies by activity from 2 minutes to 1 
hour.
    Estimated Total Annual Burden Hours: 159,982.
    2. Title: Anti-Money Laundering Programs for Dealers in Precious 
Metals, Precious Stones, or Jewels.
    OMB Control Number: 1506-0030.
    Type of Review: Extension without change of a currently approved 
collection.
    Description: Section 352 of the USA PATRIOT Act added subsection 
(h) to 31 U.S.C. 5318 of the BSA that requires the Secretary of the 
Treasury to require financial institutions to establish and maintain 
anti-money laundering (``AML'') programs. Pursuant to section 352, 
FinCEN issued regulations requiring dealers in precious metals, 
precious stones, or jewels to develop and implement a written AML 
program (31 CFR 1027.210). The program must be reasonably designed to 
prevent these financial institutions from being used for money 
laundering or the financing of terrorist activities, and to achieve and 
monitor compliance with applicable BSA requirements.
    Form: None.
    Affected Public: Businesses or other for-profits.
    Estimated Number of Respondents: 6.700.
    Frequency of Response: On occasion.
    Estimated Total Number of Annual Responses: 6,700.
    Estimated Time per Response: Varies by activity from five minutes 
to one hour.
    Estimated Total Annual Burden Hours: 7,817.
    3. Title: Anti-Money Laundering Programs for Insurance Companies, 
Non-Bank Residential Mortgage Lenders and Originators, and Banks 
Lacking a Federal Functional Regulator.
    OMB Control Number: 1506-0035.
    Type of Review: Extension without change of a currently approved 
collection.
    Description: Section 352 of the USA PATRIOT Act added subsection 
(h) to 31 U.S.C. 5318 of the BSA that requires the Secretary of the 
Treasury to require financial institutions to establish and maintain 
anti-money laundering (``AML'') programs. Pursuant to section 352, 
FinCEN issued regulations requiring insurance companies and non-bank 
residential mortgage lenders and originators (``RMLOs'') to develop and 
implement a written AML program. The program must be reasonably 
designed to prevent these financial institutions from being used for 
money laundering or the financing of terrorist activities, and to 
achieve and monitor compliance with applicable BSA requirements.
    On September 14, 2020, FinCEN issued a final rule implementing 
sections 352, 326 and 312 of the USA PATRIOT Act and removing the AML 
program exemption for banks that lack a Federal functional regulator, 
including, but not limited to, private banks, non-federally insured 
credit unions, and certain trust companies (the ``Final Rule''). The 
Final Rule requires minimum standards for AML programs for banks 
without a Federal functional regulator to ensure that all banks, 
regardless of whether they are subject to Federal regulation and 
oversight, are required to establish and implement AML programs, and 
extends customer identification program requirements and beneficial 
ownership requirements to those banks not already subject to these 
requirements.
    Form: None.
    Affected Public: Businesses or other for-profits.
    Estimated Number of Respondents: 18,278.
    Frequency of Response: On occasion.
    Estimated Total Number of Annual Responses: 18,278.
    Estimated Time per Response: Varies by activity from five minutes 
to one hour.
    Estimated Total Annual Burden Hours: 21,924.

[[Page 54163]]

    Authority: 44 U.S.C. 3501 et seq.

Spencer W. Clark,
Treasury PRA Clearance Officer.
[FR Doc. 2024-14296 Filed 6-27-24; 8:45 am]
BILLING CODE 4810-02-P