Financial Crimes Enforcement Network; Proposed Collection; Comment Request; Currency Transaction Report by Casinos, 1786-1790 [06-246]

Agencies

• DEPARTMENT OF THE TREASURY
• Department of Treasury

[Federal Register Volume 71, Number 7 (Wednesday, January 11, 2006)]
[Notices]
[Pages 1786-1790]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 06-246]


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DEPARTMENT OF THE TREASURY


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

AGENCY: Financial Crimes Enforcement Network.

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 extension, without 
change, of an existing information collection requirement contained in 
the form, ``Currency Transaction Report by Casinos, Financial Crimes 
Enforcement Network Form 103.'' 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 
March 13, 2006.

ADDRESSES: Written comments should be submitted to: The Financial 
Crimes Enforcement Network, Department of the Treasury, Post Office Box 
39, Vienna, Virginia 22183, Attention: Paperwork Reduction Act 
Comments--Currency Transaction Report by Casinos Form. Comments also 
may be submitted by electronic mail to the following Internet address: 
regcomments@fincen.treas.gov, again with a caption, in the body of the 
text, ``Attention: Paperwork Reduction Act Comments--Currency 
Transaction Report by Casinos 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, D.C. Persons wishing to inspect the comments submitted must 
request an appointment by telephoning (202) 354-6400.

FOR FURTHER INFORMATION CONTACT: Regulatory Policy and Programs 
Division at (800) 949-2732.

SUPPLEMENTARY INFORMATION: Title: Currency Transaction Report by 
Casinos.
    OMB Number: 1506-0005.
    Form Number: Financial Crimes Enforcement Network Form 103.
    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 Act of 2001, Pub. L. 107-56.
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    Section 5313(a) 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 [sic] 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.'' 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)(7)(i), are financial institutions subject to the currency 
transaction reporting requirement. Card clubs, as defined in 31 CFR 
103.11(n)(8)(i), are casinos subject to currency transaction reporting. 
(See 63 FR 1919, January 13, 1998.) The Currency Transaction Report by 
Casinos, Financial Crimes Enforcement Network Form 103, is the form 
casinos and card clubs (other than those in Nevada) use to comply with 
the currency transaction reporting requirements.
    The attached Currency Transaction Report by Casinos is presented 
only for purposes of soliciting public comment on the form.
    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 20 minutes per response.\2\ 
Form recordkeeping average of 10 minutes per response, for a total of 
30 minutes.
    Estimated Number of Respondents: 600.
    Estimated Total Annual Responses: 418,866.
    Estimated Total Annual Burden Hours: 209,433.
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    \2\ This burden relates to the completion of the Currency 
Transaction Report by Casinos form only. The recordkeeping burden of 
31 CFR 103.22 is reflected in the final rule requiring casinos and 
card clubs to file Currency Transaction Reports.
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    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 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: January 5, 2006.
William J. Fox,
Director, Financial Crimes Enforcement Network.
    Attachment: Currency Transaction Report by Casinos, Financial 
Crimes Enforcement Network Form 103.
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[FR Doc. 06-246 Filed 1-10-06; 8:45 am]
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