Proposed Information Collection; Comment Request; Renewal Without Change of Bank Secrecy Act Suspicious Activity Reporting Non-Bank Requirement for Residential Mortgage Lenders and Originators, 34300-34301 [2018-15402]

Download as PDF 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 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– 0007 and the OMB control number 1506–0061. • Mail: Policy Division, Financial Crimes Enforcement Network, P.O. Box 39, Vienna, VA 22183. Refer to Docket Number FINCEN–2018–0007 and the OMB control number 1506–0061. Please submit comments by one method only (electronically preferred). All comments submitted in response to this notice will become a matter of public record. Comments will also be incorporated to FinCEN’s retrospective regulatory review process, as mandated by E.O. 12866 and 13563. 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 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 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 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. sradovich on DSK3GMQ082PROD with NOTICES ADDRESSES: 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. VerDate Sep<11>2014 17:34 Jul 18, 2018 Jkt 244001 Title: Suspicious Activity Report by Non-Bank Residential Mortgage Lenders and Originators. OMB Number: 1506–0061. 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: Renewal of currently approved reporting requirement. Affected Public: Businesses or other for-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. Jamal El Hindi, Deputy Director, Financial Crimes Enforcement Network. [FR Doc. 2018–15402 Filed 7–18–18; 8:45 am] BILLING CODE 4810–02–P PO 00000 Frm 00204 Fmt 4703 Sfmt 4703 34301 DEPARTMENT OF THE TREASURY Office of Foreign Assets Control Notice of OFAC Sanctions Actions Office of Foreign Assets Control, Treasury. ACTION: Notice. AGENCY: The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) is publishing the names of one or more persons that have been placed on OFAC’s Specially Designated Nationals and Blocked Persons List based on OFAC’s determination that one or more applicable legal criteria were satisfied. All property and interests in property subject to U.S. jurisdiction of these persons are blocked, and U.S. persons are generally prohibited from engaging in transactions with them. DATES: See SUPPLEMENTARY INFORMATION section. FOR FURTHER INFORMATION CONTACT: OFAC: Associate Director for Global Targeting, tel.: 202–622–2420; Assistant Director for Sanctions Compliance & Evaluation, tel.: 202–622–2490; Assistant Director for Licensing, tel.: 202–622–2480; or the Department of the Treasury’s Office of the General Counsel: Office of the Chief Counsel (Foreign Assets Control), tel.: 202–622– 2410. SUPPLEMENTARY INFORMATION: SUMMARY: Electronic Availability The Specially Designated Nationals and Blocked Persons List and additional information concerning OFAC sanctions programs are available on OFAC’s website (www.treas.gov/ofac). Notice of OFAC Actions On July 9, 2018, OFAC determined that the property and interests in property subject to U.S. jurisdiction of the following person are blocked under the relevant sanctions authorities listed below. Entity 1. MAHAN TRAVEL AND TOURISM SDN BHD (a.k.a. MAHAN TRAVEL), No.01, Lower Ground Floor, Block C, NO:12 Megan Avenue2, Jalan Yap, Kwan Seng, Kuala Lumpur, Malaysia; website http://mahantravel.com.my; Email Address mahankualalumpur@ yahoo.com; Additional Sanctions Information—Subject to Secondary Sanctions; Registration Number 875233–U (Malaysia) [SDGT] [IFSR] (Linked To: MAHAN AIR). Designated pursuant to section 1(c) of E.O. 13224 for acting for or on behalf of Iran’s MAHAN AIR, a person E:\FR\FM\19JYN1.SGM 19JYN1

Agencies

[Federal Register Volume 83, Number 139 (Thursday, July 19, 2018)]
[Notices]
[Pages 34300-34301]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-15402]


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DEPARTMENT OF THE TREASURY

Financial Crimes Enforcement Network


Proposed Information Collection; Comment Request; Renewal Without 
Change of Bank Secrecy Act Suspicious Activity Reporting Non-Bank 
Requirement for Residential Mortgage Lenders and Originators

AGENCY: Financial Crimes Enforcement Network (``FinCEN''), U.S. 
Department of the Treasury.

ACTION: Notice and request for comments.

-----------------------------------------------------------------------

SUMMARY: 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.

[[Page 34301]]


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-2018-0007 and the OMB control number 1506-0061.
     Mail: Policy Division, Financial Crimes Enforcement 
Network, P.O. Box 39, Vienna, VA 22183. Refer to Docket Number FINCEN-
2018-0007 and the OMB control number 1506-0061. Please submit comments 
by one method only (electronically preferred). All comments submitted 
in response to this notice will become a matter of public record. 
Comments will also be incorporated to FinCEN's retrospective regulatory 
review process, as mandated by E.O. 12866 and 13563. 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 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 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.
---------------------------------------------------------------------------

    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 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.
    Title: Suspicious Activity Report by Non-Bank Residential Mortgage 
Lenders and Originators.
    OMB Number: 1506-0061.
    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: Renewal of currently approved reporting 
requirement.
    Affected Public: Businesses or other for-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.

Jamal El Hindi,
Deputy Director, Financial Crimes Enforcement Network.
[FR Doc. 2018-15402 Filed 7-18-18; 8:45 am]
 BILLING CODE 4810-02-P