Proposed Collection; Comment Request; Renewal Without Change of the Registration of Money Services Business, Regulation and FinCEN Form 107, 34299-34300 [2018-15399]

Download as PDF sradovich on DSK3GMQ082PROD with NOTICES Federal Register / Vol. 83, No. 139 / Thursday, July 19, 2018 / Notices insurance companies and non-bank residential mortgage lenders and originators to develop and implement written anti-money laundering programs reasonably designed to prevent those financial institutions from being used to facilitate money laundering and the financing of terrorist activities. This request for comments is being made pursuant to the Paperwork Reduction Act (‘‘PRA’’) of 1995. DATES: Written comments are welcome and must be received on or before September 17, 2018. ADDRESSES: Comments may be submitted by any of the following methods: • Federal E-rulemaking Portal: http:// www.regulations.gov. Follow the instructions for submitting comments. Refer to Docket Number FINCEN–2018– 0004 and OMB control number 1506– 0035. • Mail: Policy Division, Financial Crimes Enforcement Network, P.O. Box 39, Vienna, VA 22183. Refer to Docket Number FINCEN–2018–0004 and OMB control number 1506–0035. Please submit comments by one method only. Comments will also be incorporated to FinCEN’s retrospective regulatory review process, as mandated by E.O. 12866 and 13563. All comments submitted in response to this notice will become a matter of public record. Therefore, you should submit only information that you wish to make publicly available. FOR FURTHER INFORMATION CONTACT: The FinCEN Resource Center at 800–767– 2825 or electronically at frc@fincen.gov. SUPPLEMENTARY INFORMATION: The Bank Secrecy Act (‘‘BSA’’), Titles I and II of Public Law 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 counter-money 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 Treasury to administer the BSA has 1 Language expanding the scope of the BSA 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. VerDate Sep<11>2014 17:34 Jul 18, 2018 Jkt 244001 been delegated to the Director of FinCEN. The information collected and retained under the regulations addressed in this notice assists 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. Title: Anti-money laundering programs for insurance companies, 31 CFR 1025.210 and non-bank residential mortgage lenders and originators, 31 CFR 1029.210. Office of Management and Budget (‘‘OMB’’) Control Number: 1506–0035. Abstract: Insurance companies and non-bank residential mortgage lenders and originators are required to establish and maintain written anti-money laundering programs. A copy of the written program must be maintained for five years. Current Action: Renewal without change of current regulations. Type of Review: Renewal of a currently approved information collection. Affected Public: Businesses and other for-profit institutions. Estimated Number of Respondents: 1,200 Insurance Companies and 31,000 Non-Bank Residential Mortgage Lender and Originators. Estimated Number of Responses: 1,200 Insurance Companies and 31,000 Non-Bank Residential Mortgage Lender and Originators. Estimated Number of Hours: 1,200 Insurance Companies and 31,000 NonBank Residential Mortgage Lender and Originators.2 Total Estimated Burden Hours: 32,200. An agency may not conduct or sponsor, and a person is not required to respond to, a collection of information unless it 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 is a renewal without change of a current program. The annual update to a financial institutions’ AML program is one (1) hour. PO 00000 2 This Frm 00202 Fmt 4703 Sfmt 4703 34299 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. Jamal El-Hindi, Deputy Director, Financial Crimes Enforcement Network. [FR Doc. 2018–15401 Filed 7–18–18; 8:45 am] BILLING CODE 4810–02–P DEPARTMENT OF THE TREASURY Financial Crimes Enforcement Network Proposed Collection; Comment Request; Renewal Without Change of the Registration of Money Services Business, Regulation and FinCEN Form 107 Financial Crimes Enforcement Network (‘‘FinCEN’’), Treasury. AGENCY: Notice and request for comments. ACTION: 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 31 CFR 1022.380 and the Registration of Money Services Business report, FinCEN Form 107. The form will be used by currency dealers or exchangers; check cashers; issuers of traveler’s checks, money orders or prepaid access; sellers of traveler’s checks, money orders or prepaid access; redeemers of traveler’s checks, money orders or prepaid access; 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). SUMMARY: Written comments are welcome and must be received on or before September 17, 2018 to be assured of consideration. DATES: E:\FR\FM\19JYN1.SGM 19JYN1 34300 Federal Register / Vol. 83, No. 139 / Thursday, July 19, 2018 / Notices Comments may be submitted by any of the following methods: • Federal E-rulemaking Portal: http:// www.regulations.gov. Follow the instructions for submitting comments. Refer to Docket Number FINCEN–2018– 0005 and the specific OMB control number 1506–0013. • Mail: Policy Division, Financial Crimes Enforcement Network, P.O. Box 39, Vienna, VA 22183. Refer to Docket Number FINCEN–2018–0005 and the specific OMB control number 1506– 0013. Please submit comments by one method only. Comments will also be incorporated to FinCEN’s retrospective regulatory review process, as mandated by E.O. 12866 and 13563. All comments submitted in response to this notice will become a matter of public record. Therefore, you should submit only information that you wish to make publicly available. FOR FURTHER INFORMATION CONTACT: The FinCEN Resource Center at 800–767– 2825 or electronically at frc@fincen.gov. SUPPLEMENTARY INFORMATION: The Bank Secrecy Act (‘‘BSA’’), Titles I and II of Public Law 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 counterintelligence activities to protect against international terrorism, and to implement counter-money 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 Treasury to administer the BSA has been delegated to the Director of FinCEN. The information collected and retained under the regulations addressed in this notice assists 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 sradovich on DSK3GMQ082PROD with NOTICES ADDRESSES: 1 Language expanding the scope of the BSA 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. VerDate Sep<11>2014 17:34 Jul 18, 2018 Jkt 244001 presented concerning the recordkeeping requirements listed below. Title: Registration of Money Services Business. OMB Number: 1506–0013. Form Number: FinCEN Form 107. 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. 5311–5330, 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. 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. 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: Business or other forprofit 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. 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 PO 00000 Frm 00203 Fmt 4703 Sfmt 4703 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. Jamal El-Hindi, Deputy Director, Financial Crimes Enforcement Network. [FR Doc. 2018–15399 Filed 7–18–18; 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 NonBank Requirement for Residential Mortgage Lenders and Originators Financial Crimes Enforcement Network (‘‘FinCEN’’), U.S. Department of the Treasury. ACTION: Notice and request for comments. AGENCY: FinCEN, a bureau of the U.S. Department of the Treasury (‘‘Treasury’’), invites all interested parties to comment on its proposed renewal without change of the Bank Secrecy Act (‘‘BSA’’) Suspicious Activity Reporting regulatory requirements for residential mortgage lenders and originators. FinCEN intends to submit this requirement for approval by the Office of Management and Budget (‘‘OMB’’) of a three-year renewal of Control Number 1506–0061. This request for comments is made pursuant to the Paperwork Reduction Act (‘‘PRA’’) of 1995. DATES: Written comments should be received on or before September 17, 2018 to be assured of consideration. SUMMARY: E:\FR\FM\19JYN1.SGM 19JYN1

Agencies

[Federal Register Volume 83, Number 139 (Thursday, July 19, 2018)]
[Notices]
[Pages 34299-34300]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-15399]


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DEPARTMENT OF THE TREASURY

Financial Crimes Enforcement Network


Proposed Collection; Comment Request; Renewal Without Change of 
the Registration of Money Services Business, Regulation and 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 31 CFR 
1022.380 and the Registration of Money Services Business report, FinCEN 
Form 107. The form will be used by currency dealers or exchangers; 
check cashers; issuers of traveler's checks, money orders or prepaid 
access; sellers of traveler's checks, money orders or prepaid access; 
redeemers of traveler's checks, money orders or prepaid access; 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 
September 17, 2018 to be assured of consideration.

[[Page 34300]]


ADDRESSES: Comments may be submitted by any of the following methods:
     Federal E-rulemaking Portal: http://www.regulations.gov. 
Follow the instructions for submitting comments. Refer to Docket Number 
FINCEN-2018-0005 and the specific OMB control number 1506-0013.
     Mail: Policy Division, Financial Crimes Enforcement 
Network, P.O. Box 39, Vienna, VA 22183. Refer to Docket Number FINCEN-
2018-0005 and the specific OMB control number 1506-0013.
    Please submit comments by one method only. Comments will also be 
incorporated to FinCEN's retrospective regulatory review process, as 
mandated by E.O. 12866 and 13563. All comments submitted in response to 
this notice will become a matter of public record. Therefore, you 
should submit only information that you wish to make publicly 
available.

FOR FURTHER INFORMATION CONTACT: The FinCEN Resource Center at 800-767-
2825 or electronically at [email protected].

SUPPLEMENTARY INFORMATION: The Bank Secrecy Act (``BSA''), Titles I and 
II of Public Law 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 counter-money 
laundering programs and compliance procedures.\1\
---------------------------------------------------------------------------

    \1\ Language expanding the scope of the BSA 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.
---------------------------------------------------------------------------

    Regulations implementing Title II of the BSA appear at 31 CFR 
Chapter X. The authority of the Secretary of the Treasury to administer 
the BSA has been delegated to the Director of FinCEN.
    The information collected and retained under the regulations 
addressed in this notice assists 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.
    Title: Registration of Money Services Business.
    OMB Number: 1506-0013.
    Form Number: FinCEN Form 107.
    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. 5311-5330, 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. 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.
    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: Business or other 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.
    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.

Jamal El-Hindi,
Deputy Director, Financial Crimes Enforcement Network.
[FR Doc. 2018-15399 Filed 7-18-18; 8:45 am]
 BILLING CODE 4810-02-P