Proposed Collection; Comment Request; Renewal Without Change of the Registration of Money Services Business, FinCEN Form 107, 7527-7528 [2015-02726]
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rljohnson on DSK3VPTVN1PROD with NOTICES
Federal Register / Vol. 80, No. 27 / Tuesday, February 10, 2015 / Notices
Abstract: In accordance with 31 CFR
1029.320, 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.
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: February 3, 2015.
Jennifer Shasky Calvery,
Director, Financial Crimes Enforcement
Network.
[FR Doc. 2015–02732 Filed 2–9–15; 8:45 am]
BILLING CODE 4810–2P–P
VerDate Sep<11>2014
15:20 Feb 09, 2015
Jkt 235001
DEPARTMENT OF THE TREASURY
Financial Crimes Enforcement Network
Proposed Collection; Comment
Request; Renewal Without Change of
the Registration of Money Services
Business, FinCEN Form 107
Financial Crimes Enforcement
Network (‘‘FinCEN’’), Treasury.
ACTION: Notice and request for
comments.
AGENCY:
As part of its continuing effort
to reduce paperwork and respondent
burden, FinCEN invites comment on a
renewal without change to a currently
approved information collection
contained in the Registration of Money
Services Business, FinCEN Form 107.
The form will be used by dealers in
foreign exchange, check cashers, issuers
or sellers of traveler’s checks or money
orders, issuers, sellers, or redeemers of
stored value, and money transmitters to
register with the Department of the
Treasury as required by statute. 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 April
13, 2015.
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—MSB RegistrationForm 107. Comments also may be
submitted by electronic mail to the
following Internet address:
regcomments@fincen.gov, again with a
caption, in the body of the text,
‘‘Attention: PRA Comments—MSB
Registration-Form 107.’’ 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 Regulatory helpline at (800)
767–2825 or email frc@fincen.gov.
SUMMARY:
PO 00000
Frm 00126
Fmt 4703
Sfmt 4703
7527
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. 5311–5330,
authorizes the Secretary of the Treasury,
among other things, to issue regulations
requiring records and 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 countermoney laundering programs and
compliance procedures.1 Regulations
implementing Title II of the Bank
Secrecy Act (codified at 31 U.S.C. 5311–
5330) appear at 31 CFR Chapter X. The
authority of the Secretary to administer
the Bank Secrecy Act has been
delegated to the Director of FinCEN.
Title: Registration of Money Services
Business.
OMB Number: 1506–0013.
Form Number: FinCEN Form 107.
Abstract: Under 31 U.S.C. 5330 and
its implementing regulations, money
services businesses must register with
the Department of the Treasury,
maintain a list of their agents, and
renew their registration every two years.
Currently, money services businesses
register by filing FinCEN Form 107,
which is being renewed without change.
The information collected on the form is
required to comply with 31 U.S.C. 5330
and its implementing regulations. The
information will be used to assist
supervisory and law enforcement
agencies in the enforcement of criminal,
tax, and regulatory laws and to prevent
money services businesses from being
used by those engaging in money
laundering. The collection of
information is mandatory.
Current Actions: The current Form
107 and instructions are being renewed
without change.
Type of Review: Renewal of currently
approved collection report.
Affected Public: Individuals, business
or other for-profit institutions, and notfor-profit institutions.
Frequency: As required.
Estimated Burden: Reporting average
of 30 minutes per response;
recordkeeping average of 30 minutes per
response.
Estimated Number of Respondents:
42,000.
SUPPLEMENTARY INFORMATION:
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.
E:\FR\FM\10FEN1.SGM
10FEN1
7528
Federal Register / Vol. 80, No. 27 / Tuesday, February 10, 2015 / Notices
Estimated Total Annual Burden
Hours: 42,000 hours.
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 Bank Secrecy Act must be retained
for five years. Generally, information
collected pursuant to the Bank Secrecy
Act 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: February 3, 2015.
Jennifer Shasky Calvery,
Director, Financial Crimes Enforcement
Network.
[FR Doc. 2015–02726 Filed 2–9–15; 8:45 am]
BILLING CODE 4810–02–P
DEPARTMENT OF THE TREASURY
Financial Crimes Enforcement Network
Proposed Information Collection;
Comment Request; Renewal Without
Change of Bank Secrecy Act
Suspicious Activity Reporting
Requirement for Money Services
Businesses
Financial Crimes Enforcement
Network (‘‘FinCEN’’), Treasury.
ACTION: Notice and request for
comments.
rljohnson on DSK3VPTVN1PROD with NOTICES
AGENCY:
FinCEN invites all interested
parties to comment on its proposed
renewal without change of the Bank
Secrecy Act (‘‘BSA’’) Suspicious
Activity Reporting requirements for
money services businesses. FinCEN
intends to submit this requirement for
SUMMARY:
VerDate Sep<11>2014
15:20 Feb 09, 2015
Jkt 235001
approval by the Office of Management
and Budget (‘‘OMB’’) of a three-year
extension of Control Number 1506–
0015. This request for comments is
made pursuant to the Paperwork
Reduction Act (‘‘PRA’’) of 1995, Public
Law 104–13, 44 U.S.C. 3506(c)(2)(A).
DATES: Written comments should be
received on or before April 13, 2015 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 Reporting Requirement for
money services business. Comments
also may be submitted by electronic
mail to the following Internet address:
regcomments@fincen.gov with the
caption in the body of the text,
‘‘Attention: PRA Comments—BSA
Suspicious Activity Reporting
Requirements 1506–0015.’’ 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 frc@fincen.gov.
SUPPLEMENTARY INFORMATION: The BSA,
titles I and II of Pub. L. 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 countermoney 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
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.
PO 00000
Frm 00127
Fmt 4703
Sfmt 4703
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.
1. Title: Suspicious Activity Report by
Money Services Businesses.
OMB Number: 1506–0015.
Abstract: In accordance with 31 CFR
1022.320, 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.
Estimated 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.
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
E:\FR\FM\10FEN1.SGM
10FEN1
]]>Agencies
[Federal Register Volume 80, Number 27 (Tuesday, February 10, 2015)]
[Notices]
[Pages 7527-7528]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2015-02726]
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Financial Crimes Enforcement Network
Proposed Collection; Comment Request; Renewal Without Change of
the Registration of Money Services Business, FinCEN Form 107
AGENCY: Financial Crimes Enforcement Network (``FinCEN''), Treasury.
ACTION: Notice and request for comments.
-----------------------------------------------------------------------
SUMMARY: As part of its continuing effort to reduce paperwork and
respondent burden, FinCEN invites comment on a renewal without change
to a currently approved information collection contained in the
Registration of Money Services Business, FinCEN Form 107. The form will
be used by dealers in foreign exchange, check cashers, issuers or
sellers of traveler's checks or money orders, issuers, sellers, or
redeemers of stored value, and money transmitters to register with the
Department of the Treasury as required by statute. 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
April 13, 2015.
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--MSB
Registration-Form 107. Comments also may be submitted by electronic
mail to the following Internet address: regcomments@fincen.gov, again
with a caption, in the body of the text, ``Attention: PRA Comments--MSB
Registration-Form 107.'' 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 Regulatory helpline at
(800) 767-2825 or email frc@fincen.gov.
SUPPLEMENTARY INFORMATION: 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-
5330, authorizes the Secretary of the Treasury, among other things, to
issue regulations requiring records and 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 (codified at
31 U.S.C. 5311-5330) appear at 31 CFR Chapter X. The authority of the
Secretary to administer the Bank Secrecy Act has been delegated to the
Director of FinCEN.
---------------------------------------------------------------------------
\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.
---------------------------------------------------------------------------
Title: Registration of Money Services Business.
OMB Number: 1506-0013.
Form Number: FinCEN Form 107.
Abstract: Under 31 U.S.C. 5330 and its implementing regulations,
money services businesses must register with the Department of the
Treasury, maintain a list of their agents, and renew their registration
every two years. Currently, money services businesses register by
filing FinCEN Form 107, which is being renewed without change. The
information collected on the form is required to comply with 31 U.S.C.
5330 and its implementing regulations. The information will be used to
assist supervisory and law enforcement agencies in the enforcement of
criminal, tax, and regulatory laws and to prevent money services
businesses from being used by those engaging in money laundering. The
collection of information is mandatory.
Current Actions: The current Form 107 and instructions are being
renewed without change.
Type of Review: Renewal of currently approved collection report.
Affected Public: Individuals, business or other for-profit
institutions, and not-for-profit institutions.
Frequency: As required.
Estimated Burden: Reporting average of 30 minutes per response;
recordkeeping average of 30 minutes per response.
Estimated Number of Respondents: 42,000.
[[Page 7528]]
Estimated Total Annual Burden Hours: 42,000 hours.
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 Bank Secrecy Act must be retained for five years.
Generally, information collected pursuant to the Bank Secrecy Act 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: February 3, 2015.
Jennifer Shasky Calvery,
Director, Financial Crimes Enforcement Network.
[FR Doc. 2015-02726 Filed 2-9-15; 8:45 am]
BILLING CODE 4810-02-P
