Agency Information Collection Activities; Proposed Information Collection; Comment Request; Bank Secrecy Act/Money Laundering Risk Assessment, 70544-70545 [2012-28618]

Agencies

• Office of the Comptroller of the Currency
• DEPARTMENT OF THE TREASURY

[Federal Register Volume 77, Number 227 (Monday, November 26, 2012)]
[Notices]
[Pages 70544-70545]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2012-28618]



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DEPARTMENT OF THE TREASURY

Office of the Comptroller of the Currency


Agency Information Collection Activities; Proposed Information 
Collection; Comment Request; Bank Secrecy Act/Money Laundering Risk 
Assessment

AGENCY: Office of the Comptroller of the Currency (OCC), Treasury.

ACTION: Notice and request for comment.

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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 a continuing 
information collection, as required by the Paperwork Reduction Act of 
1995.
    Under the Paperwork Reduction Act of 1995 (44 U.S.C. chapter 
35)(PRA), Federal agencies are required to publish notice in the 
Federal Register concerning each proposed collection of information, 
including each proposed extension of an existing collection of 
information, and to allow 60 days for public comment in response to the 
notice.
    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 its information collection 
entitled, ``Bank Secrecy Act/Money Laundering Risk Assessment,'' also 
known as the Money Laundering Risk (MLR) System.

DATES: Comments must be submitted by January 25, 2013.

ADDRESSES: Communications Division, Office of the Comptroller of the 
Currency, Mailstop 2-3, Attention: 1557-0231, 250 E Street SW., 
Washington, DC 20219. In addition, comments may be sent by fax to (202) 
874-5274, or by electronic mail to regs.comments@occ.treas.gov. You may 
personally inspect and photocopy comments at the OCC, 250 E 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) 
874-4700. Upon arrival, visitors will be required to present valid 
government-issued photo identification and submit to security screening 
in order to inspect and photocopy comments.

FOR FURTHER INFORMATION CONTACT: You can request additional information 
or a copy of the information collection from Mary H. Gottlieb or Johnny 
Vilela, OCC Clearance Officers, (202) 874-5090, Legislative and 
Regulatory Activities Division, Office of the Comptroller of the 
Currency, 250 E Street SW., Washington, DC 20219.

SUPPLEMENTARY INFORMATION: Under the PRA, Federal agencies must obtain 
approval from the Office of Management and Budget (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 a third party. 
Section 3506(c)(2)(A) of the PRA 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.

Bank Secrecy Act/Money Laundering Risk Assessment (OMB Control Number 
1557-0231)--Extension

    The MLR System enhances the ability of examiners and bank 
management to identify and evaluate Bank Secrecy Act/Money Laundering 
and Office of Foreign Asset Control (OFAC) sanctions risks associated 
with banks' products, services, customers, and locations. As new 
products and services are introduced, existing products and services 
change, and banks expand through mergers and acquisitions, management's 
evaluation of potentially new money laundering and terrorist financing 
risks must evolve as well. Consequently, the MLR risk assessment is an 
important tool for the OCC's Bank Secrecy Act/Anti-Money Laundering/
OFAC supervision activities because it allows the agency to better 
identify those institutions, and areas within institutions, that pose 
heightened risk and allocate examination resources accordingly. This 
risk assessment is critical in protecting financial institutions of all 
sizes from potential abuse from money laundering or terrorist 
financing. Absent an appropriate risk assessment, applicable controls 
cannot be effectively implemented for these lines of business, 
products, or entities, which would elevate Bank Secrecy Act/Money 
Laundering and OFAC compliance risks.
    The OCC is considering expanding this reporting requirement to 
include OCC's Midsize and Large Bank populations and, therefore, is 
seeking OMB approval to include these populations in its information 
collection.
    The OCC recently updated the annual Risk Summary Form. The changes 
in the 2012 form enhance the assessment process by requiring the 
reporting of products, services, and customers (PSCs) related to 
prepaid access or prepaid cards, a growth industry that is receiving 
increased attention from regulators, law enforcement, and Congress. The 
form now requires the reporting of the following prepaid card PSCs: (i) 
Prepaid Cards (Reloadable and Non-Reloadable); (ii) Prepaid Card 
Programs--Third-Party Sponsored (Reloadable and Non-Reloadable); (iii) 
Prepaid Card Programs--Bank-Sponsored (Reloadable and Non-Reloadable); 
(iv) Prepaid Cardholders (Reloadable and Non-Reloadable); and (v) 
Prepaid Card Program Managers. In addition, the Money Services Business 
(MSB) section of the form was modified to reflect changes in regulatory 
definitions. The form now includes MSB customers that are Providers of 
Prepaid Access and Sellers of Prepaid Access. All of these changes were 
made within the existing subject headers.
    The OCC estimates the burden of this collection of information as 
follows:

Burden Estimates

Community Bank population

    Estimated Number of Respondents: 1,792.
    Estimated Number of Responses: 1,792.
    Frequency of Response: Annually.
    Estimated Annual Burden: 10,752 hours.

Midsize Bank population

    Estimated Number of Respondents: 62.
    Estimated Number of Responses: 62.
    Frequency of Response: Annually.
    Estimated Annual Burden: 1,860 hours.

Large Bank population

    Estimated Number of Respondents: 99.
    Estimated Number of Responses: 99.
    Frequency of Response: Annually.
    Estimated Annual Burden: 9,900 hours.
    With respect to the following collection of information, the OCC 
invites comments on these topics:
    (a) Whether the collection of information is necessary for the 
proper

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performance of the functions of the agency, including whether the 
information has 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 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.
    All comments will become a matter of public record. Written 
comments should address the accuracy of the burden estimates and ways 
to minimize burden including the use of automated collection techniques 
or the use of other forms of information technology as well as other 
relevant aspects of the information collection request.

    Dated: November 14, 2012.
Michele Meyer,
Assistant Director, Legislative and Regulatory Activities Division.
[FR Doc. 2012-28618 Filed 11-23-12; 8:45 am]
BILLING CODE 4810-33-P