Financial Crimes Enforcement Network – Federal Register Recent Federal Regulation Documents

Customer Due Diligence Requirements for Financial Institutions; Correction
Document Number: 2017-20777
Type: Rule
Date: 2017-09-28
Agency: Department of the Treasury, Financial Crimes Enforcement Network
FinCEN is making technical corrections to a final rule published in the Federal Register on Wednesday, May 11, 2016. The final rule relates to certain customer due diligence standards applicable to covered financial institutions, defined as banks, brokers or dealers in securities, mutual funds, and futures commission merchants and introducing brokers in commodities. As published, the final rule contains technical errors that could cause confusion if not corrected.
Proposed Collection; Comment Request; Renewal Without Change of the FinCEN Form 8300
Document Number: 2017-16175
Type: Notice
Date: 2017-08-01
Agency: Department of the Treasury, Financial Crimes Enforcement Network
FinCEN, a bureau of the U.S. Department of the Treasury, invites all interested parties to comment on its proposed renewal without change to the collection of information through Form 8300, Report of Cash Payments Over $10,000 Received in a Trade or Business. This request for comments is made pursuant to the Paperwork Reduction Act of 1995.
Agency Information Collection Activities; Comment Request; Renewal Without Change of Bank Secrecy Act Recordkeeping Requirements
Document Number: 2017-14257
Type: Notice
Date: 2017-07-07
Agency: Department of the Treasury, Financial Crimes Enforcement Network
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'') recordkeeping requirements addressed in this notice. FinCEN intends to submit these requirements for approval by the Office of Management and Budget (``OMB'') of a three-year extension of Control Numbers 1506-0050 through 1506-0059. This request for comments is made pursuant to the Paperwork Reduction Act (``PRA'') of 1995. In addition, FinCEN is seeking comment on 31 CFR 1010.430, the nature of records and retention period, which is not subject to the PRA because there is no information collection associated with it.\1\
Proposal of Special Measure Against Bank of Dandong as a Financial Institution of Primary Money Laundering Concern
Document Number: 2017-14026
Type: Proposed Rule
Date: 2017-07-07
Agency: Department of the Treasury, Financial Crimes Enforcement Network
FinCEN is issuing a notice of proposed rulemaking (NPRM), pursuant to section 311 of the USA PATRIOT Act, to prohibit the opening or maintaining of a correspondent account in the United States for, or on behalf of, Bank of Dandong.
Proposed Collection; Comment Request; Update and Renewal of the Bank Secrecy Act Designation of Exempt Person Report
Document Number: 2017-11974
Type: Notice
Date: 2017-06-13
Agency: Department of the Treasury, Financial Crimes Enforcement Network
FinCEN, a bureau of the U.S. Department of the Treasury (``Treasury''), invites all interested parties to comment on its proposed update and renewal of the collection of information through its ``Designation of Exempt Person'' (``DoEP'') report, used by banks and other depository institutions to designate eligible customers as exempt from the requirement to report transactions in currency over $10,000. FinCEN is proposing to remove the reference to ``Document Control Number,'' which is no longer in use, and add a country field to accommodate reporting from U.S. territories in Part II following the current item 11, and Part III following the current item 23. This request for comments is being made pursuant to the Paperwork Reduction Act (``PRA'') of 1995.
Agency Information Collection Activities: Proposed Collection; Comment Request; Generic Clearance for the Collection of Qualitative Feedback on Agency Service Delivery
Document Number: 2017-06301
Type: Notice
Date: 2017-03-30
Agency: Department of the Treasury, Financial Crimes Enforcement Network
As part of our continuing effort to reduce paperwork and respondent burden, we invite comment on a proposed renewal, without change, to the generic clearance for the collection of qualitative feedback on agency service delivery. This request for comments is being made pursuant to the Paperwork Reduction Act (``PRA'') of 1995, Public Law 104-13, 44 U.S.C. 3506(c)(2)(A).
Proposed Renewal Without Change; Comment Request; Anti-Money Laundering Programs; Due Diligence Programs for Correspondent Accounts for Foreign Financial Institutions
Document Number: 2017-06300
Type: Notice
Date: 2017-03-30
Agency: Department of the Treasury, Financial Crimes Enforcement Network
As part of our continuing effort to reduce paperwork and respondent burden, we invite comment on a proposed renewal, without change, to an information collection found in existing regulations requiring U.S. financial institutions to establish due diligence policies, procedures, and controls reasonably designed to detect and report money laundering through correspondent accounts that U.S. financial institutions establish or maintain for certain foreign financial institutions. This request for comments is being made pursuant to the Paperwork Reduction Act of 1995.
Inflation Adjustment of Civil Monetary Penalties
Document Number: 2017-01637
Type: Rule
Date: 2017-02-10
Agency: Department of the Treasury, Office of Foreign Assets Control, Financial Crimes Enforcement Network
The Department of the Treasury (``Department'' or ``Treasury'') publishes this final rule to adjust its civil monetary penalties (``CMPs'') for inflation as mandated by the Federal Civil Penalties Inflation Adjustment Act of 1990, as amended by the Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015 (collectively referred to herein as ``the Act''). This rule adjusts CMPs within the jurisdiction of certain components of the Department to the maximum amount required by the Act.
Proposed Collection; Comment Request; Update and Revision of the FinCEN Suspicious Activity Reports Electronic Data Fields
Document Number: 2017-02235
Type: Notice
Date: 2017-02-02
Agency: Department of the Treasury, Financial Crimes Enforcement Network
FinCEN, a bureau of the U.S. Department of the Treasury (``Treasury''), invites all interested parties to comment on its proposed update and revisions to the collection of information filings by financial institutions required to file such reports under the Bank Secrecy Act (``BSA''). This notice does not propose any new regulatory requirements or changes to the requirements related to suspicious activity reporting. The data fields reflect the filing requirement for all filers of SARs under the BSA. This request for comments is being made pursuant to the Paperwork Reduction Act (PRA) of 1995, Public Law 104-13, 44 U.S.C. 3506(c)(2)(A).
Supplemental Information Regarding the Final Rule Imposing the Fifth Special Measure Against FBME Bank, Ltd.
Document Number: 2016-28752
Type: Rule
Date: 2016-12-01
Agency: Department of the Treasury, Financial Crimes Enforcement Network
In its September 20, 2016 order, the U.S. District Court for the District of Columbia remanded to FinCEN the final rule imposing a prohibition on covered financial institutions from opening or maintaining correspondent accounts for, or on behalf of, FBME Bank, Ltd. In its memorandum opinion accompanying that order, the Court stated that the agency had not responded meaningfully to FBME's comments regarding the agency's treatment of aggregate Suspicious Activity Report (SAR) data. The Court found that those comments challenged FinCEN's interpretation of SAR data on at least four distinct grounds. In this supplement to the final rule, FinCEN provides further explanation addressing FBME's comments.
Imposition of Special Measure Against North Korea as a Jurisdiction of Primary Money Laundering Concern
Document Number: 2016-27049
Type: Rule
Date: 2016-11-09
Agency: Department of the Treasury, Financial Crimes Enforcement Network
FinCEN is issuing this final rule to prohibit U.S. financial institutions from opening or maintaining a correspondent account for, or on behalf of, North Korean banking institutions. The rule further prohibits U.S. financial institutions from processing transactions for the correspondent account of a foreign bank in the United States if such a transaction involves a North Korean financial institution, and requires institutions to apply special due diligence to guard against such use by North Korean financial institutions.
Technical Amendments to Various Bank Secrecy Act Regulations
Document Number: 2016-26557
Type: Rule
Date: 2016-11-04
Agency: Department of the Treasury, Financial Crimes Enforcement Network
FinCEN is issuing this final rule to make a number of technical amendments. This final rule updates various sections of the regulations implementing the Bank Secrecy Act (``BSA'') by removing or replacing outdated references to obsolete BSA forms, removing references to outdated recordkeeping storage media, and replacing several other outdated terms and references.
Conditional Exception to Bank Secrecy Act Regulations Relating to the Burma Section 311 Final Rule
Document Number: 2016-25249
Type: Rule
Date: 2016-10-19
Agency: Department of the Treasury, Financial Crimes Enforcement Network
This document contains a conditional exception, pursuant to authority under the Bank Secrecy Act, which would permit certain U.S. financial institutions to maintain correspondent accounts for Burmese banks under certain conditions.
Customer Identification Programs, Anti-Money Laundering Programs, and Beneficial Ownership Requirements for Banks Lacking a Federal Functional Regulator
Document Number: 2016-20219
Type: Proposed Rule
Date: 2016-08-25
Agency: Department of the Treasury, Financial Crimes Enforcement Network
FinCEN is issuing this proposed rule to implement section 326 of the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001 and to remove the anti-money laundering program exemption for banks that lack a Federal functional regulator, including, but not limited to, private banks, non-federally insured credit unions, and certain trust companies. The proposed rule would prescribe minimum standards for anti-money laundering programs for banks without a Federal functional regulator to ensure that all banks, regardless of whether they are subject to Federal regulation and oversight, are required to establish and implement anti-money laundering programs, and would extend customer identification program requirements and beneficial ownership requirements to those banks not already subject to these requirements.
Proposed Renewal Without Change; Comment Request; Imposition of Special Measure Against Commercial Bank of Syria, Including Its Subsidiary Syrian Lebanese Commercial Bank, as a Financial Institution of Primary Money Laundering Concern
Document Number: 2016-20240
Type: Notice
Date: 2016-08-24
Agency: Department of the Treasury, Financial Crimes Enforcement Network
As part of our continuing effort to reduce paperwork and respondent burden, FinCEN invites comment on a renewal, without change, to information collection requirements finalized on March 15, 2006 (71 FR 13260, RIN 1506-AA64), imposing a special measure against the Commercial Bank of Syria, including its subsidiary Syrian Lebanese Commercial Bank, as a financial institution of primary money laundering concern. This request for comments is being made pursuant to the Paperwork Reduction Act of 1995 (``PRA''), Public Law 104-13, 44 U.S.C. 3506(c)(2)(A).
Civil Monetary Penalty Adjustment and Table
Document Number: 2016-15653
Type: Rule
Date: 2016-06-30
Agency: Department of the Treasury, Financial Crimes Enforcement Network
FinCEN is amending the regulations under the Bank Secrecy Act to adjust the maximum amount or range, as set by statute, of certain civil monetary penalties within its jurisdiction to account for inflation. This action is being taken to implement the requirements of the Federal Civil Penalties Inflation Adjustment Act of 1990, as further amended by the Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015.
Imposition of Special Measure Against North Korea as a Jurisdiction of Primary Money Laundering Concern
Document Number: 2016-13037
Type: Proposed Rule
Date: 2016-06-03
Agency: Department of the Treasury, Financial Crimes Enforcement Network
In a finding, notice of which was published elsewhere in this issue of the Federal Register (``Notice of Finding''), the Director of FinCEN found that the Democratic People's Republic of Korea (``North Korea'') is a jurisdiction of primary money laundering concern. FinCEN is issuing this notice of proposed rulemaking (``NPRM'') to propose to prohibit covered financial institutions from opening or maintaining a correspondent account in the United States for or on behalf of a North Korean banking institution and to prohibit the use of foreign banking institutions' correspondent accounts at covered U.S. financial institutions to process transactions involving North Korean financial institutions.
Finding That the Democratic People's Republic of Korea Is a Jurisdiction of Primary Money Laundering Concern
Document Number: 2016-13038
Type: Notice
Date: 2016-06-02
Agency: Department of the Treasury, Financial Crimes Enforcement Network
This document provides notice that, pursuant to the authority contained in the USA PATRIOT Act, the Director of FinCEN found on May 27, 2016 that reasonable grounds exist for concluding that the Democratic People's Republic of Korea (``DPRK'' or ``North Korea'') is a jurisdiction of primary money laundering concern.
Customer Due Diligence Requirements for Financial Institutions
Document Number: 2016-10567
Type: Rule
Date: 2016-05-11
Agency: Department of the Treasury, Financial Crimes Enforcement Network
FinCEN is issuing final rules under the Bank Secrecy Act to clarify and strengthen customer due diligence requirements for: Banks; brokers or dealers in securities; mutual funds; and futures commission merchants and introducing brokers in commodities. The rules contain explicit customer due diligence requirements and include a new requirement to identify and verify the identity of beneficial owners of legal entity customers, subject to certain exclusions and exemptions.
Amendments to the Definition of Broker or Dealer in Securities
Document Number: 2016-07345
Type: Proposed Rule
Date: 2016-04-04
Agency: Department of the Treasury, Financial Crimes Enforcement Network
FinCEN, a bureau of the Department of the Treasury, is proposing amendments to the definitions of ``broker or dealer in securities'' and ``broker-dealer'' under the regulations implementing the Bank Secrecy Act. This rulemaking would amend those definitions explicitly to include funding portals that are involved in the offering or selling of crowdfunding securities pursuant to section 4(a)(6) of the Securities Act of 1933. The consequence of those amendments would be that funding portals would be required to implement policies and procedures reasonably designed to achieve compliance with the Bank Secrecy Act requirements currently applicable to brokers or dealers in securities. The proposal to specifically require funding portals to comply with the Bank Secrecy Act regulations is intended to help prevent money laundering, terrorist financing, and other financial crimes.
Imposition of Special Measure Against FBME Bank Ltd., Formerly Known as the Federal Bank of the Middle East Ltd., as a Financial Institution of Primary Money Laundering Concern
Document Number: 2016-07210
Type: Rule
Date: 2016-03-31
Agency: Department of the Treasury, Financial Crimes Enforcement Network
In a Notice of Finding (NOF) published in the Federal Register on July 22, 2014, FinCEN found that reasonable grounds exist for concluding that FBME Bank Ltd. (FBME), formerly known as the Federal Bank of the Middle East Ltd., is a financial institution of primary money laundering concern pursuant to Section 311 of the USA PATRIOT Act (Section 311). On the same date, FinCEN also published in the Federal Register a Notice of Proposed Rulemaking (NPRM) to propose the imposition of a special measure authorized by Section 311 against FBME and opened a comment period that closed on September 22, 2014. On July 29, 2015, FinCEN published in the Federal Register a final rule imposing the fifth special measure, which the United States District Court for the District of Columbia subsequently enjoined before the rule's effective date of August 28, 2015. FinCEN is issuing this final rule imposing a prohibition on U.S. financial institutions from opening or maintaining a correspondent account for, or on behalf of, FBME in place of the rule published on July 29, 2015.
Financial Crimes Enforcement Network; Withdrawal of Notice of Proposed Rulemaking Regarding JSC CredexBank
Document Number: 2016-04413
Type: Proposed Rule
Date: 2016-03-17
Agency: Department of the Treasury, Financial Crimes Enforcement Network
This document withdraws FinCEN's proposed rulemaking to impose the first and fifth special measure regarding JSC CredexBank (``Credex''), renamed JSC InterPayBank (``InterPay''), as a financial institution of primary money laundering concern, pursuant to Section 311 of the USA PATRIOT Act (``Section 311''). Because of material subsequent developments that have mitigated the money laundering risks associated with Credex, FinCEN has determined that Credex is no longer a primary money laundering concern that warrants the implementation of a special measure under Section 311. Elsewhere in this issue of the Federal Register, FinCEN is publishing a withdrawal of the related finding regarding Credex.
Financial Crimes Enforcement Network; Withdrawal of Finding Regarding JSC CredexBank
Document Number: 2016-04412
Type: Rule
Date: 2016-03-17
Agency: Department of the Treasury, Financial Crimes Enforcement Network
This document withdraws FinCEN's finding that JSC CredexBank (``Credex''), renamed JSC InterPayBank (``InterPay''), is a financial institution of primary money laundering concern, pursuant to Section 311 of the USA PATRIOT Act (``Section 311''). Because of material subsequent developments that have mitigated the money laundering risks associated with Credex, FinCEN has determined that Credex is no longer a primary money laundering concern that warrants the implementation of a special measure under Section 311. Elsewhere in this issue of the Federal Register, FinCEN is publishing a withdrawal of the related notice of proposed rulemaking that would have imposed two special measures against Credex.
Financial Crimes Enforcement Network; Amendment to the Bank Secrecy Act Regulations-Reports of Foreign Financial Accounts
Document Number: 2016-04880
Type: Proposed Rule
Date: 2016-03-10
Agency: Department of the Treasury, Financial Crimes Enforcement Network
FinCEN, a bureau of the Department of the Treasury (``Treasury''), is proposing to revise the regulations implementing the Bank Secrecy Act (``BSA'') regarding Reports of Foreign Bank and Financial Accounts (``FBAR''). The proposed rule would expand and clarify the exemptions for certain U.S. persons with signature or other authority over foreign financial accounts. In addition, the proposed rule would remove the special rules permitting limited account information to be reported when a U.S. person has financial interest in or signature authority over 25 or more foreign financial accounts. The proposed rule would also make several other changes, including a change to the filing date for FBAR reports due in 2017 and a revision to reflect electronic filing of FBARs.
Financial Crimes Enforcement Network; Withdrawal of Notice of Proposed Rulemaking Regarding Banca Privada d'Andorra
Document Number: 2016-04768
Type: Proposed Rule
Date: 2016-03-04
Agency: Department of the Treasury, Financial Crimes Enforcement Network
This document withdraws FinCEN's notice of proposed rulemaking seeking to impose the fifth special measure regarding Banca Privada d'Andorra (``BPA''), pursuant to Section 311 of the USA PATRIOT Act (``Section 311''), codified at 31 U.S.C. 5318A. Because of material subsequent developments that have mitigated the money laundering risks associated with BPA, FinCEN has determined that BPA is no longer a primary money laundering concern that warrants the implementation of a special measure under Section 311. Elsewhere in this issue of the Federal Register, FinCEN is publishing a withdrawal of the related finding regarding BPA.
Financial Crimes Enforcement Network; Withdrawal of Finding Regarding Banca Privada d'Andorra
Document Number: 2016-04767
Type: Notice
Date: 2016-03-04
Agency: Department of the Treasury, Financial Crimes Enforcement Network
This document withdraws FinCEN's finding that Banca Privada d'Andorra (``BPA'') is a financial institution of primary money laundering concern, pursuant to Section 311 of the USA PATRIOT Act (``Section 311''), codified at 31 U.S.C. 5318A. Because of material subsequent developments that have mitigated the money laundering risks associated with BPA, FinCEN has determined that BPA is no longer a primary money laundering concern that warrants the implementation of a special measure under Section 311. Elsewhere in this issue of the Federal Register, FinCEN is publishing a withdrawal of the related notice of proposed rulemaking that would have imposed a special measure against BPA.
Proposed Collection; Comment Request; Renewal Without Change of the Requirement for Information Sharing Between Government Agencies and Financial Institutions
Document Number: 2016-04275
Type: Notice
Date: 2016-02-29
Agency: Department of the Treasury, Financial Crimes Enforcement Network
The Department of the Treasury, 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 proposed and/or continuing information collections, as required by the Paperwork Reduction Act of 1995, Public Law 104-13 (44 U.S.C. 3506(c)(2)(A)). Currently, FinCEN is soliciting comments concerning the renewal without change of the ``Information sharing between government agencies and financial institutions'' under 31 CFR 1010.520, generally referred to as the 314(a) program.
Financial Crimes Enforcement Network; Withdrawal of Finding and Notice of Proposed Rulemaking Regarding Liberty Reserve S.A.
Document Number: 2016-03830
Type: Proposed Rule
Date: 2016-02-24
Agency: Department of the Treasury, Financial Crimes Enforcement Network
This document withdraws FinCEN's finding that Liberty Reserve S.A. (``Liberty Reserve'') is a financial institution of primary money laundering concern and the related notice of proposed rulemaking seeking to impose the fifth special measure regarding Liberty Reserve, pursuant to section 311 of the USA PATRIOT Act (``Section 311''). Because of material subsequent developments that have mitigated the money laundering risks associated with Liberty Reserve, FinCEN has determined that Liberty Reserve is no longer a primary money laundering concern that warrants the implementation of a special measure under Section 311.
Proposed Collection; Comment Request; Bank Secrecy Act Currency Transaction Report (BCTR) Revised Layout and Proposed Additional Data Fields
Document Number: 2016-01825
Type: Notice
Date: 2016-02-02
Agency: Department of the Treasury, Financial Crimes Enforcement Network
FinCEN published the revised Bank Secrecy Act Currency Transaction Report (``BCTR'') in March 2011. The BCTR was designed to facilitate financial institutions reporting the most frequently encountered transaction scenarios. Since that time, FinCEN has become aware that the current report is not configured to allow for alternative reporting models that have developed in the last few years, such as reports filed by a parent company on behalf of its subsidiary. To remedy some of the limitations of the current BCTR, FinCEN now proposes an amended report. This notice does not propose any new regulatory requirements or changes to the requirements related to currency transaction reporting, but rather seeks input on technical matters designed to improve the layout and reporting of the BCTR. This request for comments covers 31 CFR 1010.310. This request for comments is made pursuant to the Paperwork Reduction Act of 1995 (PRA), Public Law 104-13, 44 U.S.C. 3506(c)(2)(A).
Notice of Availability of Regulatory Impact Assessment and Initial Regulatory Flexibility Analysis Regarding the Customer Due Diligence Requirements for Financial Institutions
Document Number: 2015-32378
Type: Proposed Rule
Date: 2015-12-24
Agency: Department of the Treasury, Financial Crimes Enforcement Network
By this notice, the Financial Crimes Enforcement Network (FinCEN) of the Department of the Treasury (Treasury) announces the availability of two related documents that are part of the Customer Due Diligence Requirements for Financial Institutions Proposed Rulemaking: A Regulatory Impact Assessment (RIA) and an Initial Regulatory Flexibility Analysis (IRFA).
Bank Secrecy Act Advisory Group; Solicitation of Application for Membership
Document Number: 2015-31659
Type: Notice
Date: 2015-12-17
Agency: Department of the Treasury, Financial Crimes Enforcement Network
FinCEN is inviting the public to nominate financial institutions and trade groups for membership on the Bank Secrecy Act Advisory Group. New members will be selected for three-year membership terms.
Imposition of Special Measure Against FBME Bank Ltd., Formerly Known as the Federal Bank of the Middle East Ltd., as a Financial Institution of Primary Money Laundering Concern
Document Number: 2015-30119
Type: Proposed Rule
Date: 2015-11-27
Agency: Department of the Treasury, Financial Crimes Enforcement Network
On July 29, 2015, FinCEN issued a Final Rule imposing the fifth special measure against FBME Bank Ltd. (FBME), formerly known as the Federal Bank of the Middle East, Ltd., with an effective date of August 28, 2015. On August 27, 2015, the United States District Court for the District of Columbia granted FBME's motion for a preliminary injunction and enjoined the Final Rule from taking effect. On November 6, 2015, the Court granted the Government's motion for voluntary remand to allow for further rulemaking proceedings. FinCEN is hereby re-opening the Final Rule to solicit additional comment in connection with the rulemaking, particularly with respect to the unclassified, non-protected documents that support the rulemaking and whether any alternatives to the prohibition of the opening or maintaining of correspondent accounts with FBME would effectively mitigate the risk to domestic financial institutions.
Financial Crimes Enforcement Network; Withdrawal of the Proposed Rulemaking Against Lebanese Canadian Bank SAL
Document Number: 2015-24912
Type: Proposed Rule
Date: 2015-10-07
Agency: Department of the Treasury, Financial Crimes Enforcement Network
This document withdraws FinCEN's February 17, 2011, proposed rulemaking to impose the fifth special measure against Lebanese Canadian Bank SAL (``LCB'') as a financial institution of primary money laundering concern, pursuant to the United States Code (U.S.C.).
Imposition of Special Measure against Banca Privada d'Andorra as a Financial Institution of Primary Money Laundering Concern
Document Number: 2015-05724
Type: Proposed Rule
Date: 2015-03-13
Agency: Department of the Treasury, Financial Crimes Enforcement Network
In a finding, notice of which is published elsewhere in this issue of the Federal Register (``Notice of Finding''), the Director of FinCEN found that Banca Privada d'Andorra (``BPA'') is a financial institution operating outside of the United States that is of primary money laundering concern. FinCEN is issuing this notice of proposed rulemaking (``NPRM'') to propose the imposition of a special measure against BPA.
Proposed Information Collection; Comment Request; Renewal Without Change of Anti-Money Laundering Programs for Money Services Businesses, Mutual Funds, and Operators of Credit Cards Systems
Document Number: 2015-03586
Type: Notice
Date: 2015-02-23
Agency: Department of the Treasury, Financial Crimes Enforcement Network
As part of our continuing effort to reduce paperwork and respondent burden, the Financial Crimes Enforcement Network (``FinCEN'') invites comment on a proposed renewal, without change, to information collections found in existing regulations requiring money services businesses, mutual funds, and operators of credit card systems 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 of 1995 (``PRA''), Public Law 104-13, 44 U.S.C. 3506(c)(2)(A).
Proposed Information Collection; Comment Request; Renewal of Suspicious Activity Reporting Requirements by Brokers or Dealers in Securities and Futures Commission Merchants and Introducing Brokers in Commodities.
Document Number: 2015-03584
Type: Notice
Date: 2015-02-23
Agency: Department of the Treasury, Financial Crimes Enforcement Network
FinCEN invites comment on the renewal of an information collection requirement for the recordkeeping and reporting of suspicious activities by brokers or dealers in securities and futures commission merchants (FCMs) and introducing brokers in commodities (IBs).\1\ The Bank Secrecy Act Suspicious Activity Report, (``BSAR'') \2\ will be used by these entities to report suspicious activity to FinCEN. This request for comments also covers 31 CFR 1023.320, relating to reports by brokers or dealers in securities of suspicious transactions, and 31 CFR 1026.320, reports by futures commission merchants and introducing brokers in commodities of suspicious transactions. This request for comments is being made pursuant to the Paperwork Reduction Act (``PRA'') of 1995, Public Law 104-13, 44 U.S.C. 3506(c)(2)(A).
Proposed Information Collection Renewal; Comment Request; Anti-Money Laundering Programs for Insurance Companies and Non-Bank Residential Mortgage Lenders and Originators
Document Number: 2015-03580
Type: Notice
Date: 2015-02-23
Agency: Department of the Treasury, Financial Crimes Enforcement Network
FinCEN invites comment on the renewal of information collections in existing regulations requiring insurance companies and non-bank 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, Public Law 104-13, 44 U.S.C. 3506(c)(2)(A).
Proposed Information Collection; Comment Request; Renewal Without Change of Bank Secrecy Act Suspicious Activity Reporting Requirement for Residential Mortgage Lenders and Originators
Document Number: 2015-02732
Type: Notice
Date: 2015-02-10
Agency: Department of the Treasury, Financial Crimes Enforcement Network
FinCEN invites all interested parties to comment on its proposed renewal without change of the Bank Secrecy Act (``BSA'') Suspicious Activity Reporting 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 extension of Control Number 1506-0061. 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).
Proposed Information Collection; Comment Request; Renewal Without Change of Bank Secrecy Act Suspicious Activity Reporting Requirement for Money Services Businesses
Document Number: 2015-02731
Type: Notice
Date: 2015-02-10
Agency: Department of the Treasury, Financial Crimes Enforcement Network
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 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).
Proposed Collection; Comment Request; Renewal Without Change of the Registration of Money Services Business, FinCEN Form 107
Document Number: 2015-02726
Type: Notice
Date: 2015-02-10
Agency: Department of the Treasury, Financial Crimes Enforcement Network
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).
Bank Secrecy Act Advisory Group; Solicitation of Application for Membership
Document Number: 2014-29846
Type: Notice
Date: 2014-12-24
Agency: Department of the Treasury, Financial Crimes Enforcement Network
FinCEN is inviting the public to nominate financial institutions and trade groups for membership on the Bank Secrecy Act Advisory Group. New members will be selected for three-year membership terms.
Financial Crimes Enforcement Network; Withdrawal of the Proposed Rule Against PJSC Trustbank, Formerly Known as Infobank
Document Number: 2014-29339
Type: Proposed Rule
Date: 2014-12-15
Agency: Department of the Treasury, Financial Crimes Enforcement Network
This document withdraws FinCEN's August 24, 2004 proposed rule proposing imposition of the fifth special measure against PJSC Trustbank, formerly known as Infobank (``Trustbank''), as a financial institution of primary money laundering concern, pursuant to the authority contained in the Bank Secrecy Act.
Agency Information Collection Activities; Comment Request; Renewal Without Change of Bank Secrecy Act Suspicious Activity and Currency Transaction Reporting Requirements
Document Number: 2014-22225
Type: Notice
Date: 2014-09-18
Agency: Department of the Treasury, Financial Crimes Enforcement Network
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 requirements for certain financial institutions, i.e., depository institutions, casinos and card clubs, and insurance companies. This notice also proposes to renew without change the Currency Transaction Reporting requirement for certain financial institutions, i.e., depository institutions, money services businesses, brokers or dealers in securities, mutual funds, futures commission merchants and introducing brokers in commodities, and casinos and card clubs. FinCEN intends to submit these requirements for approval by the Office of Management and Budget (``OMB'') of a three- year extension of Control Numbers 1506-0001, 1506-0004, 1506-0005, 1506-0006, and 1506-0029. 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).
Proposed Collection; Comment Request; Renewal Without Change of the FinCEN Suspicious Activity Reports Electronic Data Fields
Document Number: 2014-18859
Type: Notice
Date: 2014-08-11
Agency: Department of the Treasury, Financial Crimes Enforcement Network
FinCEN invites all interested parties to comment on its proposed renewal without change to the collection of information filings by financial institutions required to file such reports under the Bank Secrecy Act (``BSA''). This notice does not propose any new regulatory requirements or changes to the requirements related to suspicious activity reporting. The data fields reflect the filing requirement for all filers of SARs under the BSA. This request for comments covers 31 CFR 1020.320, 1021.320, 1022.320, 1023.320, 1024.320, 1025.320, 1026.320, and 1029.320. This request for comments is being made pursuant to the Paperwork Reduction Act (``PRA'') of 1995, Public Law 104-13, 44 U.S.C. 3506(c)(2)(A).
Customer Due Diligence Requirements for Financial Institutions
Document Number: 2014-18036
Type: Proposed Rule
Date: 2014-08-04
Agency: Department of the Treasury, Financial Crimes Enforcement Network
The Financial Crimes Enforcement Network (FinCEN), after consulting with staff from various federal supervisory authorities, is proposing rules under the Bank Secrecy Act to clarify and strengthen customer due diligence requirements for: Banks; brokers or dealers in securities; mutual funds; and futures commission merchants and introducing brokers in commodities. The proposed rules would contain explicit customer due diligence requirements and would include a new regulatory requirement to identify beneficial owners of legal entity customers, subject to certain exemptions.
Agency Information Collection Activities; Comment Requested; Renewal Without Change to the Comprehensive Iran Sanctions, Accountability, and Divestment Act of 2010 (“CISADA”) Reporting Requirements Under Section 104(e)
Document Number: 2014-16624
Type: Notice
Date: 2014-07-15
Agency: Department of the Treasury, Financial Crimes Enforcement Network
FinCEN, a bureau of the U.S. Department of the Treasury (``Treasury''), invites all interested parties to comment on the Bank Secrecy Act (``BSA'') regulations implemented pursuant to section 104(e) of the Comprehensive Iran Sanctions, Accountability, and Divestment Act of 2010 (``CISADA'') and consistent with its statutory mission under 31 U.S.C. 310. FinCEN is proposing to renew this information collection without change. The rule requires a U.S. bank that maintains a correspondent account for a foreign bank to inquire of the foreign bank, and report to FinCEN, certain information with respect to transactions or other financial services provided by that foreign bank. Under the rule, U.S. banks are required to report this information to FinCEN upon receiving a specific written request from FinCEN.
Agency Information Collection Activities; Comment Request; Renewal Without Change of Bank Secrecy Act Recordkeeping Requirements
Document Number: 2014-12502
Type: Notice
Date: 2014-05-29
Agency: Department of the Treasury, Financial Crimes Enforcement Network
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'') recordkeeping requirements addressed in this notice. FinCEN intends to submit these requirements for approval by the Office of Management and Budget (``OMB'') of a three-year extension of Control Numbers 1506-0050 through 1506-0059. 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). In addition, FinCEN is seeking comment on 31 CFR 1010.430, (a provision in FinCEN's regulations which establishes a general five-year recordkeeping) the nature of records and retention period, and which is not subject to the PRA because there is no information collection associated with it.
Agency Information Collection Activities; Comment Request; Renewal Without Change to Correspondent Accounts for Foreign Shell Banks; Recordkeeping and Termination of Correspondent Accounts.
Document Number: 2014-12450
Type: Notice
Date: 2014-05-29
Agency: Department of the Treasury, Financial Crimes Enforcement Network
FinCEN, a bureau of the U.S. Department of the Treasury (``Treasury''), invites all interested parties to comment on its proposed renewal without change to the collection of information in 31 CFR 1010.630 concerning the prohibition on correspondent accounts for foreign shell banks, including recordkeeping and termination of correspondent account provisions. 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).
Proposed Collection; Comment Request; Renewal Without Change of the FinCEN Form 8300
Document Number: 2014-09032
Type: Notice
Date: 2014-04-22
Agency: Department of the Treasury, Financial Crimes Enforcement Network
FinCEN, a bureau of the U.S. Department of the Treasury (``Treasury''), invites all interested parties to comment on its proposed renewal without change to the collection of information through Form 8300, Report of Cash Payments Over $10,000 Received in a Trade or Business. 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).
Privacy Act of 1974, as Amended; System of Records Notice
Document Number: 2014-08254
Type: Notice
Date: 2014-04-14
Agency: Department of the Treasury, Financial Crimes Enforcement Network
In accordance with the Privacy Act of 1974, as amended, the Financial Crimes Enforcement Network (``FinCEN''), Department of the Treasury (``Treasury''), gives notice of proposed alterations to three existing systems of records entitled ``Treasury/FinCEN .001FinCEN Investigations and Examinations System (the ``Investigations and Examinations System''),'' ``Treasury/FinCEN .002Suspicious Activity Report System (the ``SAR System''),'' and ``Treasury/FinCEN .003Bank Secrecy Act Reports System (the ``BSA System'').'' The systems of records were last published in their entirety on October 1, 2012, at 77 FR 60016, 77 FR 60017, and 77 FR 60020, respectively.