[Federal Register Volume 80, Number 27 (Tuesday, February 10, 2015)]
[Notices]
[Pages 7527-7528]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2015-02726]


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DEPARTMENT OF THE TREASURY

Financial Crimes Enforcement Network


Proposed Collection; Comment Request; Renewal Without Change of 
the Registration of Money Services Business, FinCEN Form 107

AGENCY: Financial Crimes Enforcement Network (``FinCEN''), Treasury.

ACTION: Notice and request for comments.

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SUMMARY: 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).

DATES: Written comments are welcome and must be received on or before 
April 13, 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--MSB 
Registration-Form 107. Comments also may be submitted by electronic 
mail to the following Internet address: <a href="/cdn-cgi/l/email-protection#a4d6c1c3c7cbc9c9c1cad0d7e4c2cdcac7c1ca8ac3cbd2"><span class="__cf_email__" data-cfemail="cdbfa8aaaea2a0a0a8a3b9be8daba4a3aea8a3e3aaa2bb">[email protected]</span></a>, again 
with a caption, in the body of the text, ``Attention: PRA Comments--MSB 
Registration-Form 107.'' Please cite specific OMB Control Number(s) 
listed above when commenting.
    Instructions. It is preferable for comments to be submitted by 
electronic mail. Please submit comments by one method only. 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 Regulatory helpline at 
(800) 767-2825 or email <a href="/cdn-cgi/l/email-protection#4721352407212e2924222969202831"><span class="__cf_email__" data-cfemail="5d3b2f3e1d3b34333e3833733a322b">[email protected]</span></a>.

SUPPLEMENTARY INFORMATION: The statute generally referred to as the 
``Bank Secrecy Act,'' Titles I and II of Public Law 91-508, as amended, 
codified at 12 U.S.C. 1829b, 12 U.S.C. 1951-1959, and 31 U.S.C. 5311-
5330, authorizes the Secretary of the Treasury, among other things, to 
issue regulations requiring records and 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 Bank Secrecy Act (codified at 
31 U.S.C. 5311-5330) appear at 31 CFR Chapter X. The authority of the 
Secretary to administer the Bank Secrecy Act has been delegated to the 
Director of FinCEN.
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    \1\ Language expanding the scope of the Bank Secrecy Act 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.
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    Title: Registration of Money Services Business.
    OMB Number: 1506-0013.
    Form Number: FinCEN Form 107.
    Abstract: Under 31 U.S.C. 5330 and its implementing regulations, 
money services businesses must register with the Department of the 
Treasury, maintain a list of their agents, and renew their registration 
every two years. Currently, money services businesses register by 
filing FinCEN Form 107, which is being renewed without change. The 
information collected on the form is required to comply with 31 U.S.C. 
5330 and its implementing regulations. The information will be used to 
assist supervisory and law enforcement agencies in the enforcement of 
criminal, tax, and regulatory laws and to prevent money services 
businesses from being used by those engaging in money laundering. The 
collection of information is mandatory.
    Current Actions: The current Form 107 and instructions are being 
renewed without change.
    Type of Review: Renewal of currently approved collection report.
    Affected Public: Individuals, business or other for-profit 
institutions, and not-for-profit institutions.
    Frequency: As required.
    Estimated Burden: Reporting average of 30 minutes per response; 
recordkeeping average of 30 minutes per response.
    Estimated Number of Respondents: 42,000.

[[Page 7528]]

    Estimated Total Annual Burden Hours: 42,000 hours.
    An agency may not conduct or sponsor, and a person is not required 
to respond to, a collection of information unless the collection of 
information displays a valid OMB control number. Records required to be 
retained under the Bank Secrecy Act must be retained for five years. 
Generally, information collected pursuant to the Bank Secrecy Act 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 3, 2015.
Jennifer Shasky Calvery,
Director, Financial Crimes Enforcement Network.
[FR Doc. 2015-02726 Filed 2-9-15; 8:45 am]
BILLING CODE 4810-02-P


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