Financial Crimes Enforcement Network 2012 – Federal Register Recent Federal Regulation Documents

Proposed Collection; Comment Request; Renewal Without Change of the Requirement for Information Sharing Between Government Agencies and Financial Institutions
Document Number: 2012-30121
Type: Notice
Date: 2012-12-13
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.
Notice of Proposed Rulemaking: Definitions of Transmittal of Funds and Funds Transfer
Document Number: 2012-29233
Type: Proposed Rule
Date: 2012-12-06
Agency: Department of the Treasury, Financial Crimes Enforcement Network
The Financial Crimes Enforcement Network (FinCEN), a bureau of the Department of the Treasury, and the Board of Governors of the Federal Reserve System (Board) are proposing amendments to the regulatory definitions of ``funds transfer'' and ``transmittal of funds'' under the regulations implementing the Bank Secrecy Act. The proposed changes are intended to maintain the current scope of the definitions and are necessary in light of changes to the Electronic Fund Transfer Act that will result in certain currently covered transactions being excluded from Bank Secrecy Act requirements.
Proposed Collection; Comment Request; Renewal Without Change of the FinCEN Form 8300
Document Number: 2012-28518
Type: Notice
Date: 2012-11-26
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, the Financial Crimes Enforcement Network (FinCEN) is soliciting comments concerning Form 8300, Report of Cash Payments Over $10,000 Received in a Trade or Business.
Privacy Act of 1974, as Amended; System of Records Notice
Document Number: 2012-24017
Type: Notice
Date: 2012-10-01
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 July 21, 2008, at 73 FR 42406, 73 FR 42407, and 73 FR 42409, respectively.
Repeal of the Final Rule Imposing Special Measures and Withdrawal of the Findings of Primary Money Laundering Concern Against Myanmar Mayflower Bank and Asia Wealth Bank
Document Number: 2012-23995
Type: Rule
Date: 2012-10-01
Agency: Department of the Treasury, Financial Crimes Enforcement Network
This document repeals FinCEN's final rule, ``Imposition of Special Measures Against Myanmar Mayflower Bank and Asia Wealth Bank'' of April 12, 2004, and withdraws the findings of Myanmar Mayflower Bank and Asia Wealth Bank as Financial Institutions of Primary Money Laundering Concern of November 25, 2003, issued pursuant to 31 U.S.C. 5318A of the Bank Secrecy Act (the ``BSA'').
Request for Comments: Customer Due Diligence Requirements for Financial Institutions; Public Hearing
Document Number: 2012-17065
Type: Proposed Rule
Date: 2012-07-13
Agency: Department of the Treasury, Financial Crimes Enforcement Network
FinCEN is announcing the first in an intended series of public hearings to continue gathering information on its Advance Notice of Proposed Rulemaking (ANPRM) on Customer Due Diligence (CDD) Requirements for Financial Institutions, published in the Federal Register on March 5, 2012.\1\ In particular, FinCEN seeks further clarification on the issues described in this Notice. FinCEN invites various components of the law enforcement and regulatory communities to participate. In addition, FinCEN invites other interested parties, including industry representatives, to attend and/or provide comments at this first public hearing, to be held on July 31, 2012 at the U.S. Department of the Treasury building in Washington, DC FinCEN will also provide information in this Notice about how to submit comments and/or attend the hearing and what procedures to follow to submit information to the Treasury Department to obtain entry to the hearing site.
Amendment to the Bank Secrecy Act Regulations-Requirement That Clerks of Court Report Certain Currency Transactions
Document Number: 2012-13783
Type: Rule
Date: 2012-06-07
Agency: Department of the Treasury, Financial Crimes Enforcement Network
FinCEN is amending the rules relating to the reporting of certain currency transactions consistent with a recent statutory amendment authorizing FinCEN to require clerks of court to file such reports with the U.S. Department of the Treasury. Such information already is required to be reported by clerks of court pursuant to regulations issued by the Internal Revenue Service (``IRS''), but FinCEN heretofore has been limited in its ability to access and share further that information because of minor differences between the relevant statutory authorities applicable to FinCEN and the IRS.
Amendment to the Bank Secrecy Act Regulations-Exemption From the Requirement To Report Transactions in Currency
Document Number: 2012-13781
Type: Rule
Date: 2012-06-07
Agency: Department of the Treasury, Financial Crimes Enforcement Network
FinCEN is issuing this final rule to amend the regulations that allow depository institutions to exempt transactions of certain payroll customers \1\ from the requirement to report transactions in currency in excess of $10,000. The rule substitutes the term ``frequently'' for ``regularly'' in the provision of the exemption rules dealing with payroll customers. This modification of the exemption procedures is a part of the Department of the Treasury's continuing effort to increase the efficiency and effectiveness of its anti-money laundering and counter-terrorist financing policies.
Proposed Renewal Without Change; Comment Request; Customer Identification Programs for Various Financial Institutions
Document Number: 2012-6479
Type: Notice
Date: 2012-03-19
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 proposed renewal, without change, to information collections found in regulations requiring futures commission merchants, introducing brokers, banks, savings associations, credit unions, certain non-federally regulated banks, mutual funds, and broker-dealers, to develop and implement customer identification programs reasonably designed to prevent those financial institutions from being used to facilitate money laundering and the financing of terrorist activities. This request for comment is being made pursuant to the Paperwork Reduction Act of 1995, Public Law 104-13, 44 U.S.C. 3506(c)(2)(A).
Agency Information Collection Activities; Proposed Collection; Comment Request; Report of International Transportation of Currency or Monetary Instruments
Document Number: 2012-6477
Type: Notice
Date: 2012-03-19
Agency: Department of the Treasury, Financial Crimes Enforcement Network
As part of our continuing effort to reduce paperwork and respondent burden, FinCEN invites the general public and other Federal agencies to comment on an information collection requirement concerning the CMIR. This request for comment is being made pursuant to the Paperwork Reduction Act of 1995 (PRA), Public Law 10 U.S.C. 3506(c)(2)(A)).
Customer Due Diligence Requirements for Financial Institutions
Document Number: 2012-5187
Type: Proposed Rule
Date: 2012-03-05
Agency: Department of the Treasury, Financial Crimes Enforcement Network
FinCEN, after consulting with staffs of various Federal supervisory authorities, is issuing this advance notice of proposed rulemaking (ANPRM) to solicit public comment on a wide range of questions pertaining to the development of a customer due diligence (CDD) regulation that would codify, clarify, consolidate, and strengthen existing CDD regulatory requirements and supervisory expectations, and establish a categorical requirement for financial institutions to identify beneficial ownership of their accountholders, subject to risk-based verification and pursuant to an alternative definition of beneficial ownership as described below.
Anti-Money Laundering Program and Suspicious Activity Report Filing Requirements for Residential Mortgage Lenders and Originators
Document Number: 2012-3074
Type: Rule
Date: 2012-02-14
Agency: Department of the Treasury, Financial Crimes Enforcement Network
FinCEN, a bureau of the Department of the Treasury (``Treasury''), is issuing this Final Rule defining non-bank residential mortgage lenders and originators as loan or finance companies for the purpose of requiring them to establish anti-money laundering programs and report suspicious activities under the Bank Secrecy Act.
Proposed Collection; Comment Request; Renewal of Suspicious Activity Reporting by the Securities and Futures Industry
Document Number: 2011-33855
Type: Notice
Date: 2012-01-05
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 activity activities by the Securities and Futures Industry,\1\ Office of Management and Budget Control Number 1506-0019. The report, (BSA-SAR) \2\ will be used by the securities and futures industry to report suspicious activity to the Department of the Treasury. This request for comments also covers 31 CFR 1026.320 and 31 CFR 1023.320. 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).