Financial Crimes Enforcement Network 2017 – Federal Register Recent Federal Regulation Documents

Bank Secrecy Act Advisory Group; Solicitation of Application for Membership
Document Number: 2017-27846
Type: Notice
Date: 2017-12-27
Agency: Department of the Treasury, Financial Crimes Enforcement Network
FinCEN is inviting the public to nominate financial institutions, trade groups, and non-federal regulators or law enforcement agencies for membership on the Bank Secrecy Act Advisory Group. New members will be selected for three-year membership terms.
Imposition of Special Measure Against Bank of Dandong as a Financial Institution of Primary Money Laundering Concern
Document Number: 2017-24238
Type: Rule
Date: 2017-11-08
Agency: Department of the Treasury, Financial Crimes Enforcement Network
FinCEN is issuing this final rule to prohibit covered U.S. financial institutions from opening or maintaining a correspondent account for, or on behalf of, Bank of Dandong Co., Ltd. (Bank of Dandong) as a financial institution of primary money laundering concern pursuant to Section 311 of the USA PATRIOT Act (Section 311). The rule further requires covered U.S. financial institutions to take reasonable steps not to process transactions for the correspondent account of a foreign banking institution in the United States if such a transaction involves Bank of Dandong. It also requires covered institutions to apply special due diligence to their foreign correspondent accounts that is reasonably designed to guard against their use to process transactions involving Bank of Dandong.
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).