Financial Crimes Enforcement Network – Federal Register Recent Federal Regulation Documents

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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.
Renewal Without Change to the Bank Secrecy Act Designation of Exempt Person Report; Proposed Collection; Comment Request
Document Number: 2014-05965
Type: Notice
Date: 2014-03-18
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 to 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. 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).
Anti-Money Laundering Program and Suspicious Activity Report Filing Requirements for Housing Government Sponsored Enterprises
Document Number: 2014-04125
Type: Rule
Date: 2014-02-25
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 certain housing government sponsored enterprises as financial institutions for the purpose of requiring them to establish anti-money laundering programs and report suspicious activities pursuant to the Bank Secrecy Act. The requirements to establish anti-money laundering programs and report suspicious activities are intended to help prevent fraud and other financial crimes.
Financial Crimes Enforcement Network; Agency Information Collection Activities: Proposed Collection; Comment Request; Generic Clearance for the Collection of Qualitative Feedback on Agency Service Delivery
Document Number: 2014-02348
Type: Notice
Date: 2014-02-05
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).
Bank Secrecy Act Advisory Group; Solicitation of Application for Membership
Document Number: 2013-30723
Type: Notice
Date: 2013-12-26
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.
Definitions of Transmittal of Funds and Funds Transfer
Document Number: 2013-28951
Type: Rule
Date: 2013-12-04
Agency: Department of the Treasury, Financial Crimes Enforcement Network
The Financial Crimes Enforcement Network, a bureau of the Department of the Treasury, and the Board of Governors of the Federal Reserve System are issuing this Final Rule amending the regulatory definitions of ``funds transfer'' and ``transmittal of funds'' under the regulations implementing the Bank Secrecy Act (``BSA''). We are amending the definitions to maintain their current scope in light of changes to the Electronic Fund Transfer Act, which will avoid certain currently covered transactions being excluded from BSA requirements.
Information Collection Proposed Renewal Without Change; Comment Request; Anti-Money Laundering Programs; Due Diligence Programs for Correspondent Accounts for Foreign Financial Institutions
Document Number: 2013-25840
Type: Notice
Date: 2013-11-01
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, Public Law 104-13, 44 U.S.C. 3506(c)(2)(A).
Financial Crimes Enforcement Network; 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: 2013-17077
Type: Notice
Date: 2013-07-18
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 information collection requirements found in existing regulations 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).
Financial Crimes Enforcement Network; Comment Request; Renewal Without Change-Administrative Rulings in Accordance With the Paperwork Reduction Act
Document Number: 2013-17075
Type: Notice
Date: 2013-07-18
Agency: Department of the Treasury, Financial Crimes Enforcement Network
The Office of Management and Budget (``OMB'') Control Number 1506-0050 approval for, Financial Crimes Enforcement Network (``FinCEN'') Administrative Rulings, expires October 31, 2013. FinCEN is proposing to renew without change these procedural requirements. This request for comment is being made pursuant to the Paperwork Reduction Act (``PRA'') of 1995, Public Law 104-13, 44 U.S.C. 3506(c)(2)(A).
Imposition of Special Measure Against Liberty Reserve S.A. as a Financial Institution of Primary Money Laundering Concern
Document Number: 2013-12945
Type: Proposed Rule
Date: 2013-06-06
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 Liberty Reserve S.A. (Liberty Reserve) 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 Liberty Reserve.
Notice of Finding That Liberty Reserve S.A. Is a Financial Institution of Primary Money Laundering Concern
Document Number: 2013-12944
Type: Notice
Date: 2013-06-06
Agency: Department of the Treasury, Financial Crimes Enforcement Network
This document provides notice that, pursuant to the authority contained in 31 U.S.C. 5318A, the Director of FinCEN found on May 28, 2013, that Liberty Reserve S.A. (Liberty Reserve) is a financial institution operating outside the United States that is of primary money laundering concern.
Proposed Renewal Without Change; Comment Request; Imposition of Special Measure Against Banco Delta Asia, Including Its Subsidiaries Delta Asia Credit Limited and Delta Asia Insurance Limited, as a Financial Institution of Primary Money Laundering Concern
Document Number: 2013-13323
Type: Proposed Rule
Date: 2013-06-05
Agency: Department of the Treasury, Financial Crimes Enforcement Network
As part of a continuing effort to reduce paperwork and respondent burden, FinCEN invites comment on a renewal, without change, to information collection requirements finalized on March 19, 2007 (72 FR 12730, RIN 1506-AA83) imposing a special measure against Banco Delta Asia, including its subsidiaries Delta Asia Credit Limited and Delta Asia Insurance Limited, as a financial institution of primary money laundering concern. 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).
Order Imposing Recordkeeping and Reporting Obligations on Certain U.S. Financial Institutions With Respect to Transactions Involving Halawi Exchange Co. as a Financial Institution of Primary Money Laundering Concern
Document Number: 2013-09786
Type: Notice
Date: 2013-04-25
Agency: Department of the Treasury, Financial Crimes Enforcement Network
The Director of FinCEN found on April 22, 2013, that Halawi Exchange Co. (``Halawi Exchange'') is a financial institution operating outside the United States that is of primary money laundering concern. The Director of FinCEN is issuing an order imposing certain recordkeeping and reporting obligations with respect to transactions involving Halawi Exchange (the ``Order'').
Notice of Finding That Halawi Exchange Co. Is a Financial Institution of Primary Money Laundering Concern
Document Number: 2013-09785
Type: Notice
Date: 2013-04-25
Agency: Department of the Treasury, Financial Crimes Enforcement Network
This document provides notice that the Director of FinCEN found on April 22, 2013, that Halawi Exchange Co. (``Halawi Exchange'') is a financial institution operating outside the United States that is of primary money laundering concern.
Imposition of Special Measures Against Halawi Exchange Co. as a Financial Institution of Primary Money Laundering Concern
Document Number: 2013-09784
Type: Proposed Rule
Date: 2013-04-25
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, the Director of FinCEN found that Halawi Exchange Co. (``Halawi Exchange'') 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 two special measures against Halawi Exchange.
Notice of Finding That Kassem Rmeiti & Co. For Exchange Is a Financial Institution of Primary Money Laundering Concern
Document Number: 2013-09783
Type: Notice
Date: 2013-04-25
Agency: Department of the Treasury, Financial Crimes Enforcement Network
This document provides notice that the Director of FinCEN found on April 22, 2013, that reasonable grounds exist for concluding that Kassem Rmeiti & Co. For Exchange (``Rmeiti Exchange'') is a financial institution operating outside the United States that is of primary money laundering concern.
Imposition of Special Measures Against Kassem Rmeiti & Co. for Exchange as a Financial Institution of Primary Money Laundering Concern
Document Number: 2013-09782
Type: Proposed Rule
Date: 2013-04-25
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, the Director of FinCEN found that Kassem Rmeiti & Co. For Exchange (``Rmeiti Exchange'') 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 two special measures against Rmeiti Exchange.
Order Imposing Recordkeeping and Reporting Obligations on Certain U.S. Financial Institutions With Respect to Transactions Involving Kassem Rmeiti & Co. for Exchange as a Financial Institution of Primary Money Laundering Concern
Document Number: 2013-09779
Type: Notice
Date: 2013-04-25
Agency: Department of the Treasury, Financial Crimes Enforcement Network
The Director of FinCEN found on April 22, 2013 that Kassem Rmeiti & Co. For Exchange (``Rmeiti Exchange'') is a financial institution operating outside the United States that is of primary money laundering concern. The Director of FinCEN is issuing an order imposing certain recordkeeping and reporting obligations with respect to transactions involving Rmeiti Exchange (the ``Order'').
Agency Information Collection Activities; Comment Request of the Proposed Changes to the Report of Foreign Bank and Financial Accounts Report
Document Number: 2013-04936
Type: Notice
Date: 2013-03-05
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 update to Form TD F 90-22.1, Report of Foreign Bank and Financial Accounts (``FBAR''). This request for comments is made pursuant to the Paperwork Reduction Act of 1995 (44 U.S.C. Chapter 35).
Bank Secrecy Act Advisory Group; Solicitation of Application for Membership
Document Number: 2013-01174
Type: Notice
Date: 2013-01-22
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.
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).
Bank Secrecy Act Advisory Group; Solicitation of Application for Membership
Document Number: 2011-30312
Type: Notice
Date: 2011-11-25
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.
Anti-Money Laundering Program and Suspicious Activity Reporting Requirements for Housing Government Sponsored Enterprises
Document Number: 2011-28820
Type: Proposed Rule
Date: 2011-11-08
Agency: Department of the Treasury, Financial Crimes Enforcement Network
FinCEN, a bureau of the Department of the Treasury (``Treasury''), is issuing proposed rules defining certain housing government sponsored enterprises as financial institutions for the purpose of requiring them to establish anti-money laundering programs and report suspicious activities pursuant to the Bank Secrecy Act. The proposal to require these organizations to establish anti-money laundering programs and report suspicious activities is intended to help prevent fraud and other financial crimes.
Bank Secrecy Act Regulations: Definition of “Monetary Instrument”
Document Number: 2011-26743
Type: Proposed Rule
Date: 2011-10-17
Agency: Department of the Treasury, Financial Crimes Enforcement Network, Department of Treasury
FinCEN is proposing to amend the definition of ``monetary instrument'' in the Bank Secrecy Act (``BSA'') regulations for purposes of the international transport of currency and monetary instrument reporting requirement to include tangible prepaid access devices.
Comprehensive Iran Sanctions, Accountability, and Divestment Reporting Requirements
Document Number: 2011-26204
Type: Rule
Date: 2011-10-11
Agency: Department of the Treasury, Financial Crimes Enforcement Network
FinCEN, to comply with the congressional mandate to prescribe regulations under 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, is issuing this final rule. 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 will only be required to report this information to FinCEN upon receiving a specific written request from FinCEN. This final rule follows publication of a May 2, 2011 proposed rule, takes into account the public comments received, and adopts the provisions of the proposed rule with minor modifications described in the preamble.
Proposed Collection; Comment Request; Renewal With Changes to a Currently Approved Collection; the Registration of Money Services Business (MSB), FinCEN Report 107, To Incorporate Changes to the MSB Definitions and Add Provisions for Prepaid Access
Document Number: 2011-25607
Type: Notice
Date: 2011-10-06
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 information collection contained in a revised form, Registration of Money Services Business, FinCEN Form 107. The form will be used by dealers in foreign exchange; check cashers; issuers, sellers, and redeemers of traveler's checks and money orders; providers of prepaid access; 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).
Agency Information Collection Activities; Proposal That Electronic Filing of Bank Secrecy Act (BSA) Reports Be Required; Comment Request
Document Number: 2011-23841
Type: Notice
Date: 2011-09-16
Agency: Department of the Treasury, Financial Crimes Enforcement Network
FinCEN is proposing to require electronic filing of certain Bank Secrecy Act (BSA) reports not later than June 30, 2012. This requirement will significantly enhance the quality of our electronic data, improve our analytic capabilities in supporting law enforcement requirements and result in significant reduction in real costs to the United States Government and ultimately to U.S. taxpayers. Specifically, we propose mandatory electronic submission of all BSA reports excluding the Report of International Transportation of Currency or Monetary Instruments (CMIR).\1\
Financial Crimes Enforcement Network; Repeal of the Final Rule and Withdrawal of the Finding of Primary Money Laundering Concern Against VEF Banka
Document Number: 2011-19118
Type: Rule
Date: 2011-08-01
Agency: Department of the Treasury, Financial Crimes Enforcement Network
This document repeals FinCEN's final rule, ``Imposition of Special Measure Against VEF Banka'' of July 13, 2006, and withdraws the finding of VEF Banka as a Financial Institution of Primary Money Laundering Concern of April 26, 2005, issued pursuant to 31 U.S.C. 5318A of the Bank Secrecy Act (the ``BSA'').
Bank Secrecy Act Regulations-Definitions and Other Regulations Relating to Prepaid Access
Document Number: 2011-19116
Type: Rule
Date: 2011-07-29
Agency: Department of the Treasury, Financial Crimes Enforcement Network
FinCEN is issuing this final rule to amend the Bank Secrecy Act (``BSA'') regulations applicable to Money Services Businesses (``MSB'') with regard to stored value. More specifically, this final rule amends the regulations by: renaming ``stored value'' as ``prepaid access'' and defining that term; deleting the terms ``issuer'' and ``redeemer'' of stored value; imposing suspicious activity reporting, customer information and transaction information recordkeeping requirements on both providers and sellers of prepaid access, and, additionally, a registration requirement on providers only; and exempting certain categories of prepaid access products and services posing lower risks of money laundering and terrorist financing from certain requirements. These changes address regulatory gaps that have resulted from the proliferation of prepaid innovations over the last twelve years and their increasing use as an accepted payment method.
Bank Secrecy Act Regulations; Definitions and Other Regulations Relating to Money Services Businesses
Document Number: 2011-18309
Type: Rule
Date: 2011-07-21
Agency: Department of the Treasury, Financial Crimes Enforcement Network
The Financial Crimes Enforcement Network (``FinCEN''), a bureau of the Department of the Treasury (``Treasury''), is revising the regulations implementing the Bank Secrecy Act (``BSA'') regarding money services businesses (``MSBs'') to clarify which entities are covered by the definitions. The changes more clearly delineate the scope of entities regulated as MSBs, so that determining which entities are obligated to comply is more straightforward and predictable. This rulemaking amends the current MSB regulations by: ensuring that certain foreign-located persons engaging in MSB activities within the United States are subject to the BSA rules; updating the MSB definitions to reflect past guidance and rulings, current business operations, evolving technologies, and merging lines of business; and separating the provisions dealing with stored value from those dealing with issuers, sellers, and redeemers of traveler's checks and money orders.
Amendment to the Bank Secrecy Act Regulations-Reports of Foreign Financial Accounts; Correction
Document Number: 2011-15900
Type: Rule
Date: 2011-06-24
Agency: Department of the Treasury, Financial Crimes Enforcement Network
This document corrects a minor typographical error appearing in the final rule published in the Federal Register of February 24, 2011.
Proposed Renewal Without Change; Comment Request; Nine Bank Secrecy Act Recordkeeping Requirements
Document Number: 2011-14068
Type: Notice
Date: 2011-06-08
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 recordkeeping requirements found in existing regulations requiring financial institutions to keep records pertaining to Bank Secrecy Act (BSA) reportable activities. 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).
Agency Information Collection Activities; Renewal Without Change of a Current Collection; Comment Request
Document Number: 2011-11101
Type: Notice
Date: 2011-05-06
Agency: Department of the Treasury, Financial Crimes Enforcement Network
In order to comply with the requirements of the Paperwork Reduction Act (PRA) of 1995, FinCEN intends to submit the information collection addressed in this notice for a three-year extension of approval by the Office of Management and Budget (OMB). OMB Control Number 1506-0043 currently covers the information collection addressed in this notice. Prior to submission of the extension request, FinCEN is soliciting comment on those information collections in 31 CFR 1010.630, Prohibition on correspondent accounts for foreign shell banks; records concerning owners of foreign banks and agents for service of legal process.
Financial Crimes Enforcement Network; Comprehensive Iran Sanctions, Accountability, and Divestment Act of 2010 (“CISADA”) Reporting Requirements Under Section 104(e)
Document Number: 2011-10482
Type: Proposed Rule
Date: 2011-05-02
Agency: Department of the Treasury, Financial Crimes Enforcement Network
FinCEN, to comply with the congressional mandate to prescribe regulations under 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, is proposing to issue regulations that would require a U.S. bank that maintains a correspondent account for a foreign bank to inquire of the foreign bank, and report to FinCEN, with respect to whether the foreign bank maintains a correspondent account for, or has processed one or more transfers of funds within the preceding 90 calendar days, other than through a correspondent account, related to any financial institution designated by the U.S. Government in connection with Iran's proliferation of weapons of mass destruction or delivery systems for weapons of mass destruction, or in connection with Iran's support for international terrorism. In addition, FinCEN is proposing to require a U.S. bank that maintains a correspondent account for a foreign bank to inquire of the foreign bank, and report to FinCEN, with respect to whether the foreign bank has processed one or more transfers of funds within the preceding 90 calendar days related to Iran's Islamic Revolutionary Guard Corps (``IRGC'') or any of its agents or affiliates designated by the U.S. Government. Under the proposed regulations, U.S. banks will only be required to report this information to FinCEN upon receiving a specific written request from FinCEN.