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
<![CDATA[
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: https://
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: https://
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 https://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]
-----------------------------------------------------------------------
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: https://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
