Agency Information Collection Activities: Information Collection Renewal; Comment Request; Minimum Security Devices and Procedures, Reports of Suspicious Activities, and Bank Secrecy Act Compliance Program, 16277-16278 [2016-06758]

Agencies

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

[Federal Register Volume 81, Number 58 (Friday, March 25, 2016)]
[Notices]
[Pages 16277-16278]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-06758]


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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), 
Public Law 104-13 (44 U.S.C. 3506(c)(2)(A)).
    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 May 24, 2016.

ADDRESSES: Because paper mail in the Washington, DC area and at the OCC 
is subject to delay, commenters are encouraged to submit comments by 
email, if possible. Comments may be sent to: Legislative and Regulatory 
Activities Division, Office of the Comptroller of the Currency, 
Attention: 1557-0180, 400 7th Street SW., Suite 3E-218, Mail Stop 9W-
11, Washington, DC 20219. In addition, comments may be sent by fax to 
(571) 465-4326 or by electronic mail to prainfo@occ.treas.gov. You may 
personally inspect and photocopy comments at the OCC, 400 7th Street 
SW., Washington, DC 20219. 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 hard of hearing, 
TTY, (202) 649-5597. Upon arrival, visitors will be required to present 
valid government-issued photo identification and to submit to security 
screening in order to inspect and photocopy comments.
    All 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.

FOR FURTHER INFORMATION CONTACT: Shaquita Merritt, OCC Clearance 
Officer, (202) 649-5490 or, for persons who are deaf or hard of 
hearing, TTY, (202) 649-5597, Office of the Comptroller of the 
Currency, Washington, DC 20219.

SUPPLEMENTARY INFORMATION: Under the Paperwork Reduction Act (PRA) (44 
U.S.C. 3501-3520), 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 (44 U.S.C. 3506(c)(2)(A)) 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:

[[Page 16278]]

Minimum Security Devices and Procedures

    Under Sec. Sec.  21.2 and 21.4; and Sec. Sec.  568.2 and 568.4, 
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 ensure prudent institution 
management and institution safety and soundness.

Suspicious Activity Report (SAR)

    The Financial Crimes Enforcement Network (FinCEN) and Federal 
financial institution supervisory agencies \1\ (bank regulators) 
adopted the SAR in 1996 to simplify the process through which 
depository institutions inform their regulators and law enforcement 
about suspected criminal activity. The SAR was updated in 1999, 2002, 
2006, 2009 and 2013.
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    \1\ 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).
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    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). FinCEN, which has been delegated 
authority to administer the BSA, joined with the bank regulators in 
1996 in requiring, on a consolidated form (the SAR form), 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.

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 
shall be in writing, approved by the board of directors and noted in 
the minutes. 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: 1,485.
    Estimated Total Annual Burden: 714,205 hours.
    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 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: March 21, 2016.
Mary H. Gottlieb,
Regulatory Specialist, Legislative and Regulatory Activities Division.
[FR Doc. 2016-06758 Filed 3-24-16; 8:45 am]
 BILLING CODE 4810-33-P