Federal Register / Vol. 80, No. 35 / Monday, February 23, 2015 / Notices 9505 

1Language expanding the scope of the BSA to 

intelligence or counter-intelligence activities to 

protect against international terrorism was added by 

Section 358 of the Uniting and Strengthening 

America by Providing Appropriate Tools Required 

to Intercept and Obstruct Terrorism Act of 2001, 

Public Law 107–56. 

2The term money services business (‘‘MSB’’) 

includes dealer in foreign exchange, check casher, 

issuer or seller of traveler’s checks or money orders, 

provider of prepaid access, money transmitter, U.S. 

Postal Service, and seller of prepaid access. See 31 

CFR 1010.100(ff). 

3Providers and sellers of prepaid access are 

required to collect and maintain the customer’s 

name, date of birth, address, and identification 

number for five years. This collection is automated. 

FinCEN estimates that approximately 2,583,300 

prepaid cards are issued annually. 

Non-Bank Residential Mortgage Lender 

and Originators. 

Estimated Number of Responses: 

1,200 Insurance Companies and 31,000 

Non-Bank Residential Mortgage Lender 

and Originators. 

Estimated Number of Hours: 1,200 

Insurance Companies and 31,000 NonBank Residential Mortgage Lender and 

Originators. 

Total Estimated Burden Hours: 

43,000. 

An agency may not conduct or 

sponsor, and a person is not required to 

respond to, a collection of information 

unless it displays a valid OMB control 

number. Records required to be retained 

under the BSA must be retained for five 

years. Generally, information collected 

pursuant to the BSA is confidential but 

may be shared as provided by law with 

regulatory and law enforcement 

authorities. 

Request for Comments: Comments 

submitted in response to this notice will 

be summarized and/or included in the 

request for OMB approval. All 

comments will become a matter of 

public record. Comments are invited on: 

(a) Whether the collection of 

information is necessary for the proper 

performance of the functions of the 

agency, including whether the 

information shall have practical utility; 

(b) the accuracy of the agency’s estimate 

of the burden of the collection of 

information; (c) ways to enhance the 

quality, utility, and clarity of the 

information to be collected: (d) ways to 

minimize the burden of the collection of 

information on respondents, including 

through the use of automated collection 

techniques or other forms of information 

technology; and (e) estimates of capital 

or start-up costs and costs of operation, 

maintenance and purchase of services to 

provide information. 

Dated: February 13, 2015. 

Jennifer Shasky Calvery, 

Director, Financial Crimes Enforcement 

Network. 

[FR Doc. 2015–03580 Filed 2–20–15; 8:45 am] 

BILLING CODE 4810–02–P 

DEPARTMENT OF THE TREASURY 

Financial Crimes Enforcement Network 

Proposed Information Collection; 

Comment Request; Renewal Without 

Change of Anti-Money Laundering 

Programs for Money Services 

Businesses, Mutual Funds, and 

Operators of Credit Cards Systems 

AGENCY: Financial Crimes Enforcement 

Network, Treasury. 

ACTION: Notice and request for 

comments. 

SUMMARY: 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 antimoney 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). 

DATES: Written comments are welcome 

and must be received on or before April 

24, 2015. 

ADDRESSES: Written comments should 

be submitted to: Policy Division, 

Financial Crimes Enforcement Network, 

U.S Department of the Treasury, P.O. 

Box 39, Vienna, VA 22183. Attention: 

PRA Comments—AML Requirements 

for money services businesses, mutual 

funds, and operators of credit card 

systems. Comments also may be 

submitted by electronic mail to the 

following Internet address: 

regcomments@fincen.gov with the 

caption in the body of the text, 

‘‘Attention: PRA Comments—AML 

Requirements for money services 

businesses, mutual funds, and operators 

of credit card systems.’’ All submissions 

received must include the agency name 

and the specific OMB control number 

for this notice. 

Inspection of comments. Comments 

may be inspected, between 10 a.m. and 

4 p.m., in the FinCEN reading room in 

Vienna, VA. Persons wishing to inspect 

the comments submitted must request 

an appointment with the Disclosure 

Officer by telephoning (703) 905–5034 

(not a toll free call). 

FOR FURTHER INFORMATION CONTACT: The 

FinCEN Resource Center at 800–767– 

2825 or email frc@fincen.gov. 

SUPPLEMENTARY INFORMATION: The Bank 

Secrecy Act (‘‘BSA’’), Titles I and II of 

Public Law 91–508, as amended, 

codified at 12 U.S.C. 1829(b), 12 

U.S.C.1951–1959, and 31 U.S.C. 5311– 

5332, authorizes the Secretary of the 

Treasury, among other things, to require 

financial institutions to keep records 

and file reports that are determined to 

have a high degree of usefulness in 

criminal, tax and regulatory matters, or 

in the conduct of intelligence or 

counter-intelligence activities to protect 

against international terrorism, and to 

implement counter-money laundering 

programs and compliance procedures.1

Regulations implementing Title II of the 

BSA appear at 31 CFR Chapter X. The 

authority of the Secretary of the 

Treasury to administer the BSA has 

been delegated to the Director of 

FinCEN. The information collected and 

retained under the regulations 

addressed in this notice assist federal, 

state, and local law enforcement as well 

as regulatory authorities in the 

identification, investigation, and 

prosecution of money laundering and 

other matters. In accordance with the 

requirements of the PRA, 44 U.S.C. 

3506(c)(2)(A), and its implementing 

regulations, the following information is 

presented concerning the recordkeeping 

requirements listed below. 

Title: Anti-money laundering 

programs for money services businesses 

(31 CFR 1022.210),2 Anti-money 

laundering programs for mutual funds 

(31 CFR 1024.210), and Anti-money 

laundering programs for operators of 

credit card systems (31 CFR 1028.210). 

Office of Management and Budget 

(‘‘OMB’’) Control Number: 1506–0020. 

Abstract: MSBs, mutual funds, and 

operators of credit card systems are 

required to develop and implement 

written anti-money laundering 

programs. FinCEN recognizes a three 

hour burden for the initial development 

of an AML program. FinCEN further 

estimates an annual burden of one hour 

for maintenance of the program (i.e., 

review and update as necessary). In 

view of the limited information 

providers and sellers of prepaid access 

(a type of MSB) are required to 

maintain, and the degree of automation 

available to them, FinCEN estimates an 

annual maintenance burden of two 

minutes for each prepaid card issued for 

this MSB subset.3 A copy of the written 


Rmajette on DSK2VPTVN1PROD with NOTICES
9506 Federal Register / Vol. 80, No. 35 / Monday, February 23, 2015 / Notices 

4FinCEN estimates that it will take each MSB that 

is not a prepaid provider one hour to respond to 

this information collection, for a total of 252,100 

hours. FinCEN estimates that it will take each MSB 

that is a prepaid provider two minutes per prepaid 

card issued, for a total of 86,100 hours. Combined, 

the estimated hourly burden for MSBs is 338,210. 

5 Ibid. 

1The federal functional regulator for the 

securities industry is the U.S. Securities and 

Exchange Commission (‘‘SEC’’) and, for the futures 

industry, it is the Commodity Futures Trading 

Commission (‘‘CFTC’’). 

2The BSAR was approved by the Office of 

Management and Budget (‘‘OMB’’) under control 

number 1506–0065. The BSAR is a single report 

that replaced previous individual SAR forms for 

depository institutions, casinos, money services 

businesses, securities brokers or dealers, mutual 

funds, futures commission merchants, introducing 

brokers in commodities, and insurance companies, 

3Language expanding the scope of the BSA to 

intelligence or counter-intelligence activities to 

protect against international terrorism was added by 

Section 358 of the Uniting and Strengthening 

America by Providing Appropriate Tools Required 

to Intercept and Obstruct Terrorism Act of 2001, 

Public Law 107–56. 

program must be maintained for five 

years. 

Current Action: Renewal without 

change to the existing regulations. 

Affected Public: Businesses and other 

for-profit institutions. 

Burden: Estimated Number of 

Respondents: 327,206. 

31 CFR 1022.210 = 324,100. 

31 CFR 1024.210 = 3,000. 

31 CFR 1028.210 = 6. 

Estimated Number of Responses: 

2,838,406. 

31 CFR 1022.210 = 2,835,400. 

31 CFR 1024.210 = 3,000. 

31 CFR 1028.210 = 6. 

Estimated at one hour per respondent. 

31 CFR 1022.210 = 252,100.4

31 CFR 1024.210 = 3,000. 

31 CFR 1028.210 = 6. 

Estimated Number of Hours: 255,106. 

Estimated at two minutes per prepaid 

card issued. 

31 CFR 1022.210 = 86,110.5

Estimated Total Number of hours: 

341,216 

An agency may not conduct or 

sponsor, and a person is not required to 

respond to, a collection of information 

unless it displays a valid control 

number assigned by OMB. Records 

required to be retained under the BSA 

must be retained for five years. 

Generally, information collected 

pursuant to the BSA is confidential but 

may be shared as provided by law with 

regulatory and law enforcement 

authorities. 

Request for Comments 

Comments submitted in response to 

this notice will be summarized and/or 

included in the request for OMB 

approval. All comments will become a 

matter of public record. Comments are 

invited on: (a) Whether the collection of 

information is necessary for the proper 

performance of the functions of the 

agency, including whether the 

information shall have practical utility; 

(b) the accuracy of the agency’s estimate 

of the burden of the collection of 

information; (c) ways to enhance the 

quality, utility, and clarity of the 

information to be collected; (d) ways to 

minimize the burden of the collection of 

information on respondents, including 

through the use of automated collection 

techniques or other forms of information 

technology; and (e) estimates of capital 

or start-up costs and costs of operation, 

maintenance and purchase of services to 

provide information. 

Dated: February 13, 2015. 

Jennifer Shasky Calvery, 

Director, Financial Crimes Enforcement 

Network. 

[FR Doc. 2015–03586 Filed 2–20–15; 8:45 am] 

BILLING CODE 4810–02–P 

DEPARTMENT OF THE TREASURY 

Financial Crimes Enforcement Network 

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. 

AGENCY: Financial Crimes Enforcement 

Network (‘‘FinCEN’’), Treasury. 

ACTION: Notice and request for 

comments. 

SUMMARY: 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). 

DATES: Written comments are welcome 

and must be received on or before April 

24, 2015. 

ADDRESSES: Written comments should 

be submitted to: Policy Division, 

Financial Crimes Enforcement Network, 

Department of the Treasury, P.O. Box 

39, Vienna, Virginia 22183, ‘‘Attention: 

PRA Comments—SAR RequirementsSecurities and Futures Industries.’’ 

Comments also may be submitted by 

electronic mail to the following Internet 

address: regcomments@fincen.gov, again 

with a caption, in the body of the text, 

‘‘Attention: PRA Comments—SAR 

Requirements-Securities and Futures 

Industry.’’ 

Inspection of comments. Comments 

may be inspected, between 10 a.m. and 

4 p.m., in the FinCEN reading room in 

Vienna, VA. Persons wishing to inspect 

the comments submitted must request 

an appointment with the Disclosure 

Officer by telephoning (703) 905–5034 

(not a toll free call). 

FOR FURTHER INFORMATION CONTACT: The 

FinCEN Resource Center at 800–767– 

2825 or email frc@fincen.gov. 

SUPPLEMENTARY INFORMATION: The Bank 

Secrecy Act (‘‘BSA’’), Titles I and II of 

Public Law 91–508, as amended, 

codified at 12 U.S.C. 1829(b), 12 U.S.C. 

1951–1959, and 31 U.S.C. 5311–5332, 

authorizes the Secretary of the Treasury, 

among other things, to require financial 

institutions to keep records and file 

reports that are determined to have a 

high degree of usefulness in criminal, 

tax, and regulatory matters, or in the 

conduct of intelligence or counterintelligence activities to protect against 

international terrorism, and to 

implement counter-money laundering 

programs and compliance procedures.3

Regulations implementing Title II of 

the BSA appear at 31 CFR Chapter X. 

The Secretary of the Treasury was 

granted authority in 1992, with the 

enactment of 31 U.S.C. 5318(g), to 

require financial institutions to report 

suspicious transactions. The authority 

of the Secretary of the Treasury to 

administer the BSA has been delegated 

to the Director of FinCEN. The final 

Broker-Dealer SAR rule can be found at 

31 CFR 1023.320. The final FCM–IB 

SAR rule can be found at 31 CFR 

1026.320. 

The information collected is required 

to be provided pursuant to 31 U.S.C. 

5318(g), 31 CFR 1023.320 and 31 CFR 

1026.320. This information will be 

made available, in accordance with 

strict safeguards, to appropriate criminal 

law enforcement and regulatory 

personnel, and to the registered 

securities and futures associations and 

national exchanges (so-called selfVerDate Sep<11>2014 14:19 Feb 20, 2015 Jkt 235001 PO 00000 Frm 00079 Fmt 4703 Sfmt 4703 E:\FR\FM\23FEN1.SGM 23FEN1

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