Federal Register / Vol. 87, No. 32 / Wednesday, February 16, 2022 / Notices 8935 

20By ‘‘in general,’’ FinCEN means without regard 

to outliers (e.g., U.S. banks that maintain 

correspondent accounts for a large number of 

foreign banks that FinCEN may submit a CISADA 

Request for). By ‘‘on average,’’ FinCEN means the 

mean of the distribution of each subset of the 

population. 

21See Table 2. 

22See Table 4. 

23See Table 2. 

24See Table 4. 

FinCEN estimates that, in general and 

on average,20 each role would spend 

different amounts of time on each 

portion of the traditional annual PRA 

burden, as follows: 

TABLE 4—WEIGHTED AVERAGE HOURLY COST ASSOCIATED WITH COMPLYING WITH 31 CFR 1060.300 

Time 

(%) Hourly cost 

General Oversight .................................................................................................................................................... 16.67 $25.35 

General Supervision ................................................................................................................................................ 16.67 17.65 

Direct Supervision .................................................................................................................................................... 16.67 8.48 

Clerical Work ........................................................................................................................................................... 16.67 5.51 

Legal Compliance .................................................................................................................................................... 16.67 20.27 

Computer Support ................................................................................................................................................... 16.67 18.41 

Equal Weighted Average Hourly Cost ............................................................................................................. ........................ * 95.67 

* $95.67 rounded to $96.00. 

The total estimated cost of the annual 

PRA burden is 174,720, as reflected in 

Table 5 below. 

TABLE 5—TOTAL COST OF TRADITIONAL ANNUAL PRA BURDEN

Steps Hourly burden Hourly cost Total cost 

Inquire with a foreign bank for which the U.S. bank maintains a correspondent account, and 

report the foreign bank’s responses to FinCEN ...................................................................... 21 1,560 22 $96.00 $149,760 

Report to FinCEN that the U.S. bank does not maintain a correspondent account for the 

specified foreign bank .............................................................................................................. 23 260 24 96.00 24,960 

Total Cost ............................................................................................................................. ........................ ........................ 174,720 

Estimated Recordkeeping and 

Reporting Burden: The average 

estimated annual PRA burden, 

measured in hours per respondent, is 

three hours for a U.S. bank that 

maintains a correspondent account for a 

specified foreign bank about which 

FinCEN inquires, and thirty minutes per 

U.S. bank that does not maintain a 

correspondent account for a specified 

foreign bank about which FinCEN 

inquires. 

Estimated Total Annual Responses: 

1,040 responses, as set out in Table 1. 

Estimated Total Annual 

Recordkeeping Burden: The estimated 

total annual PRA burden is 1,820 hours, 

as set out in Table 2. 

Estimated Total Annual 

Recordkeeping Cost: The estimated total 

annual PRA cost is $174,720, as set out 

in Table 5. 

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 BSA must be retained for five years. 

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: (i) 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; 

(ii) the accuracy of the agency’s estimate 

of the burden of the collection of 

information; (iii) ways to enhance the 

quality, utility, and clarity of the 

information to be collected; (iv) 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 (v) estimates of capital 

or start-up costs and costs of operation, 

maintenance, and purchase of services 

to provide information. 

Himamauli Das, 

Acting Director, Financial Crimes 

Enforcement Network. 

[FR Doc. 2022–03266 Filed 2–15–22; 8:45 am] 

BILLING CODE 4810–02–P 

DEPARTMENT OF THE TREASURY 

Financial Crimes Enforcement Network 

Agency Information Collection 

Activities; Proposed Renewal; 

Comment Request; Renewal Without 

Change of Additional Records To Be 

Made and Retained by Casinos 

AGENCY: Financial Crimes Enforcement 

Network (FinCEN), Treasury. 

ACTION: Notice and request for 

comments. 

SUMMARY: As part of its continuing effort 

to reduce paperwork and respondent 

burden, FinCEN invites comments on 

the proposed renewal, without change, 

of a currently approved information 

collection found in existing Bank 

Secrecy Act regulations. Specifically, 

the regulations require casinos to secure 

and maintain a record of the name, 

permanent address, and social security 

number of each person who deposits 

funds or opens an account at the casino, 

or to whom the casino extends a line of 

credit. The regulations also require that 

casinos retain originals or copies of 

specified documents relating to account 


jspears on DSK121TN23PROD with NOTICES1
8936 Federal Register / Vol. 87, No. 32 / Wednesday, February 16, 2022 / Notices 

1The AML Act was enacted as Division F, 

§§ 6001–6511, of the William M. (Mac) Thornberry 

National Defense Authorization Act for Fiscal Year 

2021, Public Law 116–283, 134 Stat 3388 (2021). 

2Section 358 of the USA PATRIOT Act added 

language expanding the scope of the BSA to 

intelligence or counter-intelligence activities to 

protect against international terrorism. Section 6101 

of the AML Act added language further expanding 

the scope of the BSA but did not amend these 

longstanding purposes. 

3Treasury Order 180–01 (re-affirmed Jan. 14, 

2020). 4References to ‘‘casinos’’ include both ‘‘casinos’’ 

and ‘‘card clubs,’’ as those terms are defined at 31 

CFR 1010.100(t)(5) and (6). 5 In October 2021, FinCEN granted limited 

exceptive relief to allow casinos and card clubs to 

use suitable non-documentary methods to verify the 

identity of online customers. See FIN–2021–R001, 

‘‘Exceptive Relief for Casinos from Certain 

Customer Identity Verification Requirements,’’ 

(October 19, 2021), available at https://

www.fincen.gov/sites/default/files/2021-10/ 

Casino%20Exceptive%20Relief%20101921_0.pdf. 

6 31 CFR 1010.312 requires verification of identity 

by examination of a document generally accepted 

within the banking community as a means of 

identification when cashing checks for nondepositors. The document relied upon for 

verification must be recorded. 

and transaction records. Although no 

changes are proposed to the information 

collections themselves, this request for 

comments covers a future expansion of 

the scope of the annual hourly burden 

and cost estimate associated with these 

regulations. This request for comments 

is made pursuant to the Paperwork 

Reduction Act of 1995. 

DATES: Written comments are welcome, 

and must be received on or before April 

18, 2022. 

ADDRESSES: Comments may be 

submitted by any of the following 

methods: 

• Federal E-rulemaking Portal: http:// 

www.regulations.gov. Follow the 

instructions for submitting comments. 

Refer to Docket Number FINCEN–2022– 

0004 and the specific Office of 

Management and Budget (OMB) control 

number 1506–0054. 

• Mail: Policy Division, Financial 

Crimes Enforcement Network, P.O. Box 

39, Vienna, VA 22183. Refer to Docket 

Number FINCEN–2022–0004 and OMB 

control number 1506–0054. 

Please submit comments by one 

method only. Comments will be 

reviewed consistent with the Paperwork 

Reduction Act of 1995 and applicable 

OMB regulations and guidance. 

Comments submitted in response to this 

notice will become a matter of public 

record. Therefore, you should submit 

only information that you wish to make 

publicly available. 

FOR FURTHER INFORMATION CONTACT: The 

FinCEN Regulatory Support Section at 

1–800–767–2825 or electronically at 

frc@fincen.gov. 

SUPPLEMENTARY INFORMATION: 

I. Statutory and Regulatory Provisions 

The legislative framework generally 

referred to as the Bank Secrecy Act 

(BSA) consists of the Currency and 

Financial Transactions Reporting Act of 

1970, as amended by the Uniting and 

Strengthening America by Providing 

Appropriate Tools Required to Intercept 

and Obstruct Terrorism Act of 2001 

(USA PATRIOT Act), Public Law 107– 

56 (October 26, 2001), and other 

legislation, including most recently the 

Anti-Money Laundering Act of 2020 

(AML Act).1 The BSA is codified at 12 

U.S.C. 1829b, 12 U.S.C. 1951–1959, 31 

U.S.C. 5311–5314 and 5316–5336, and 

notes thereto, with implementing 

regulations at 31 CFR chapter X. 

The BSA authorizes the Secretary of 

the Treasury (the Secretary), inter alia, 

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 AML 

programs and compliance procedures.2

Regulations implementing the BSA 

appear at 31 CFR chapter X. The 

authority of the Secretary to administer 

the BSA has been delegated to the 

Director of FinCEN.3

With respect to each deposit, account, 

or line of credit, 31 CFR 1021.410(a) 

requires a casino to secure and maintain 

a record of the name, permanent address 

(‘‘address’’), and social security number 

(SSN) of the person involved at the time 

the funds are deposited, the account is 

opened, or credit is extended.4 Where 

the deposit, account, or line of credit is 

in the name of two or more persons, the 

casino must secure the name, address, 

and SSN of each person having a 

financial interest in the deposit, 

account, or line of credit. The casino is 

required to verify the name and address 

of such person(s) at the time the deposit 

is made, the account is opened, or credit 

is extended, by the examination of a 

document as described in 31 CFR 

1010.312.5 The specific identifying 

information relied upon must be 

recorded by the casino in the manner 

described in 31 CFR 1010.312.6 If a 

casino is unable to secure the required 

SSNs, the casino will not be deemed to 

be in violation of 31 CFR 1021.410 if the 

casino has made reasonable efforts to 

secure the SSNs and it maintains a list 

of the names and addresses of those 

persons from whom the casino was 

unable to obtain the SSNs. The casino 

must make the list available to the 

Secretary upon request. If a person is a 

nonresident alien, the casino is also 

required to record the person’s passport 

number or a description of another 

government document used to verify 

his/her identity. 

Under 31 CFR 1021.410(b), a casino 

must retain either the original or a copy 

of each of the following: 

• A record of each time the casino 

receives funds for credit to or deposit 

into any person’s account, including the 

name, address, and SSN of the person 

from whom the casino receives the 

funds, the date of receipt of the funds 

and the amount received. If the person 

from whom the funds were received is 

a non-resident alien, the casino is 

required to obtain and record the 

person’s passport number or a 

description of another government 

document used to verify the person’s 

identity; 

• A record of each bookkeeping entry 

made to a customer’s deposit or credit 

account with the casino; 

• Each statement, ledger card, or 

other record of each deposit or credit 

account with the casino, showing each 

transaction in or with respect to a 

customer’s account with the casino; 

• A record of each extension of credit 

in excess of $2,500, the terms and 

conditions of each such extension of 

credit, and repayments. The record must 

include the customer’s name, address, 

SSN, and the date and amount of the 

transaction (including repayments). If 

the credit is extended to a non-resident 

alien, the casino must obtain and record 

the non-resident alien’s passport 

number or a description of another 

government document used to verify 

identity; 

• A record of each advice, request or 

instruction received or given by the 

casino with respect to a transaction 

involving a person, account, or place 

outside the United States. If the 

transaction is a transfer outside the 

United States on behalf of a third party, 

the record must include the third party’s 

name, address, SSN, signature, and the 

date and amount of the transaction. If 

the transaction is a transfer received 

from outside the United States on behalf 

of a third party, the same records must 

be obtained with regard to the third 

party; 

• Records prepared or received by the 

casino in the ordinary course of 

business that would be needed to 

reconstruct a person’s deposit or credit 

account with the casino or that would 

be needed to trace a check deposited 

with the casino through the casino’s 

records to the bank of deposit; 

• All records, documents, or manuals 

required to be maintained by a casino 

under state and local laws or 


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Federal Register / Vol. 87, No. 32 / Wednesday, February 16, 2022 / Notices 8937 

7 31 CFR 1021.410(b)(10) requires each casino to 

retain a copy of the casino’s AML compliance 

program as described in 31 CFR 1021.210(b). The 

burden for casinos to comply with 31 CFR 1021.210 

is accounted for and renewed with OMB control 

number 1506–0051. For that reason, FinCEN does 

not need to estimate burden in this notice related 

to 31 CFR 1021.410(b)(10). See 85 FR 83676, Dec. 

22, 2020, for the most recent renewal of OMB 

control number 1506–0051. 

8 31 CFR 1010.100(t)(5)(iii) clarifies that any 

reference to casino in chapter X, other than in 

paragraph (t)(5) and (t)(6) of 31 CFR 1010.100, shall 

also include reference to a card club, unless the 

provision in question contains specific language 

varying its application to card clubs or excluding 

card clubs. 

9 In addition to 31 CFR 1021.410, casinos are 

required to collect and retain information related to 

transmittals of funds pursuant to 31 CFR 1010.410. 

The burden for financial institutions to comply 

with 31 CFR 1010.410 is included in OMB control 

number 1506–0058. OMB control number 1506– 

0058 was renewed in 2021, following a notice and 

request for comment published in the Federal 

Register (See 85 FR 84105, Dec. 23, 2020). In the 

notice, FinCEN stipulated that although 31 CFR 

1010.410 applies to all financial institutions, only 

certain financial institutions engage in the types of 

transactions described in 31 CFR 1010.410. Casino 

are one of the types of financial institutions that do 

not typically engage in the types of transactions 

described in 31 CFR 1010.410. Any similar type of 

transaction conducted by a casino is generally 

covered under 31 CFR 1021.410. 

10Pursuant to 31 CFR 1010.430(d), covered 

financial institutions, including casinos, are 

required to maintain records of certain financial 

transactions for a period of five years. 

11Public Law 104–13, 44 U.S.C. 3506(c)(2)(A). 

12Table 1 below sets forth a breakdown of the 

types of casinos covered by this notice. 

regulations, and regulations of any 

governing Indian tribe or tribal 

government; 

• All records which are prepared or 

used by a casino to monitor a customer’s 

gaming activity; 

• A separate record containing a list 

of each transaction between the casino 

and its customers involving the 

following types of instruments having a 

face value of $3,000 or more: (i) 

Personal checks; (ii) business checks; 

(iii) official bank checks; (iv) cashier’s 

checks; (v) third-party checks; (vi) 

promissory notes; (vii) traveler’s checks; 

and (viii) money orders. The list must 

contain the time, date, and amount of 

the transaction; the name and address of 

the customer; the type of instrument; 

the name of the drawee or issuer of the 

instrument; all reference numbers (e.g., 

casino account number, personal check 

number, etc.); and the name or casino 

license number of the casino employee 

who conducted the transaction. A 

casino must place applicable 

transactions on the list in the 

chronological order in which they 

occur; 

• A copy of the compliance program 

described in 31 CFR 1021.210(b); 7 and 

• For card clubs only,8 records of all 

currency transactions by customers, 

including, without limitation, records in 

the form of currency transaction logs 

and multiple currency transaction logs, 

and records of all activity at cages or 

similar facilities, including cage control 

logs. 

Under 31 CFR 1021.410(c), casinos 

that input, store, or retain, in whole or 

in part, for any period of time, any 

record required to be maintained by 31 

CFR 1010.410 or 31 CFR 1021.410 on 

computer disk, tape, or other machinereadable media must retain those 

records in the same format.9 All 

indexes, books, programs, record 

layouts, manuals, formats, instructions, 

file descriptions, and similar materials 

that would enable a person to readily 

access and review the records described 

in 31 CFR 1010.410 and 31 CFR 

1021.410, and that are recorded, stored, 

or retained on computer disk, tape or 

other machine-readable media, must be 

retained for the period of time such 

records are required to be retained.10

II. Paperwork Reduction Act of 1995 

(PRA) 11

Title: Additional records to be made 

and retained by casinos (31 CFR 

1021.410). 

OMB Control Number: 1506–0054. 

Report Number: Not applicable. 

Abstract: FinCEN is issuing this 

notice to renew the OMB control 

number for regulations requiring 

additional records to be made and 

retained by casinos. 

Affected Public: Businesses or other 

for-profit institutions. 

Type of Review: 

• Renewal without change of a 

currently approved information 

collection. 

• Propose for review and comment a 

renewal of the portion of the PRA 

burden that has been subject to notice 

and comment in the past (the 

‘‘traditional annual PRA burden’’). 

• Propose for review and comment a 

future expansion of the scope of the 

PRA burden (the ‘‘supplemental annual 

PRA burden’’). 

Frequency: As required. 

Estimated Number of Respondents: 

993 casinos.12

Estimated Recordkeeping Burden: In 

Part 1 of this notice, FinCEN describes 

the breakdown of the estimated number 

of casinos, by type. In Part 2, FinCEN 

proposes for review and comment a 

renewal of the estimate of the traditional 

annual PRA hourly burden, which 

includes a scope and methodology 

similar to that used in the past, with the 

incorporation of a more robust cost 

estimate. The scope and methodology 

used in the past assigned a single 

combined total annual hourly burden 

estimate, per casino, to multiple 

recordkeeping requirements within the 

regulations. In Part 3, FinCEN proposes 

for review and comment a methodology 

to estimate the hourly burden and the 

cost of a future estimate of a 

supplemental annual PRA burden that 

includes the burden and cost broken 

down by each unique type of 

recordkeeping requirement covered by 

the regulations being renewed. The 

methodology also includes identifying 

estimates of the number of transactions 

conducted annually, per casino that 

would trigger each unique 

recordkeeping requirement. Finally, in 

Part 4, FinCEN solicits input from the 

public about: (a) The accuracy of the 

estimate of the traditional annual PRA 

burden; (b) the method proposed to be 

more granular in the calculation of 

burden per unique recordkeeping 

requirement, within the regulations, to 

establish a future supplemental annual 

PRA burden; (c) the criteria, metrics, 

and most appropriate questions FinCEN 

should consider when researching the 

information to estimate the future 

traditional and supplemental annual 

PRA burden, according to the 

methodology proposed; and (d) any 

other comments about the regulation 

and the current and proposed future 

hourly burden and cost estimates of 

these requirements. 


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8938 Federal Register / Vol. 87, No. 32 / Wednesday, February 16, 2022 / Notices 

13According to the numbers provided to FinCEN 

by the American Gaming Association (AGA), there 

are 466 commercial class casinos as of October 20, 

2020. 14According to the numbers provided to FinCEN 

by the AGA, there are 527 tribal properties as of 

October 20, 2020. 15According to numbers provided to FinCEN by 

the AGA, the total number of casinos includes 223 

commercial and tribal casinos in Nevada as of 

October 20, 2020. This number does not include 

restricted locations, i.e., those with 15 slot 

machines or fewer. See also supra note 8. FinCEN 

does not have a source to estimate the number of 

card clubs impacted by 31 CFR 1021.410, therefore, 

the number of card clubs is not included in the total 

estimated number of casinos. 

16See supra note 7. 

17See supra note 8. 

18See supra note 9. 

19FinCEN does not have a way to estimate the 

number of cash transactions conducted annually 

per card club. In addition, FinCEN does not have 

a source to estimate the number of card clubs 

impacted by this regulation. In the past FinCEN 

estimated the total number of cash transactions 

conducted by card clubs annually was 215,000. 

Because FinCEN does not have a reliable source to 

estimate the number of cash transactions conducted 

by card clubs annually, and we did not receive 

comments contradicting our estimate of 215,000 

cash transactions in the last renewal of this 

regulation, we will continue to use this estimate as 

part of the traditional annual PRA burden estimate. 

Part 1. Breakdown of the Casinos 

Covered by This Notice 

The breakdown of casinos, by type, 

covered by this notice is reflected in 

Table 1 below: 

TABLE 1—BREAKDOWN OF CASINOS

COVERED BY THIS NOTICE, BY TYPE

OF CASINO

Type of casino Number of 

casinos 

Casino ................................... 13 466 

Tribal casino ......................... 14 527 

Total number of casinos 15 993 

Part 2. Traditional Annual PRA Burden 

and Cost 

(a) 31 CFR 1021.410(a) and (b)(1)–(9) 16

Each casino must secure and maintain 

arecord of the name, address, and SSN 

of each person who deposits funds, 

opens an account, or obtains a line of 

credit with the casino. Each casino must 

verify and document verification of this 

information. If a casino is unable to 

obtain SSNs for any of these 

transactions after making a reasonable 

effort to do so, the casino must maintain 

a list of the names and addresses of 

persons from whom the casino was 

unable to obtain SSNs, to be made 

available to the Secretary of Treasury 

upon request. 

Each casino must retain the original 

or a copy of each of the types of records 

outlined in 31 CFR 1021.410(b)(1)–(9), 

as described in additional detail in 

Section I above. 

There are practical challenges to (i) 

determining the total number of 

deposits accepted, accounts opened, or 

lines of credit extended by each casino 

annually, and (ii) estimating how many 

records as described under 31 CFR 

1021.410(b)(1)–(9) are generated by each 

casino each year. Because of these 

challenges, in the past, FinCEN has 

generally estimated the number of hours 

it would take for a casino to obtain and 

retain the records described in 31 CFR 

1021.410(a) and 31 CFR 1021.410(b)(1)– 

(9) as being the same for every casino: 

107.5 hours per casino. 

(b) 31 CFR 1021.410(b)(11) 

31 CFR 1021.410(b)(11) requires each 

card club 17 to document records of all 

currency transactions by customers and 

to retain the original or copy or 

reproduction of all currency 

transactions logs, multiple currency 

transaction logs, and cage control logs. 

FinCEN does not have a way to 

estimate the number of cash 

transactions conducted annually per 

card club. In addition, FinCEN does not 

have a source to estimate the number of 

card clubs impacted by this regulation. 

For these reasons, in the past, FinCEN 

has estimated the total number of cash 

transactions conducted by card clubs, in 

total, annually and assessed a burden 

estimate of 5 minutes per transaction. 

(c) 31 CFR 1021.410(c) 

Pursuant to 31 CFR 1021.410(c), 

casinos must record any of the records 

required to be maintained under 31 CFR 

1010.410 and 31 CFR 1021.410 on 

computer disk, tape, or other machinereadable media to retain those records 

in same format for five years. 

The records required to be maintained 

under 31 CFR 1021.410 are described in 

more detail above.18 As noted above, 

FinCEN has no way to estimate the 

volume of transactions described in 31 

CFR 1021.410 that are conducted 

annually by casinos. For that reason, in 

the past, FinCEN has generally 

estimated that the annual burden per 

casino to maintain such records in the 

format described in 31 CFR 1021.410(c) 

is the same for all casinos: 4 hours. 

FinCEN’s estimate of the traditional 

annual PRA burden, therefore, is 

128,637 hours, as detailed in Table 2 

below: 

TABLE 2—BURDEN ASSOCIATED WITH EACH PORTION OF THE TRADITIONAL ANNUAL PRA ESTIMATE

Action Number of casinos or transactions 

(see Table 1) Time Total hourly burden 

Complying with recordkeeping requirements under 

31 CFR 1021.410(a) & (b)(1)–(9).

993 ................................................. 107.5 hours per casino .................. * 106,748 

Complying with recordkeeping requirements under 

31 CFR 1021.410(b)(11).

215,000 transactions conducted by 

card clubs in total 19.

5 minutes per transaction .............. * 17,917 

Complying with recordkeeping requirements under 

31 CFR 1021.410(c).

993 ................................................. 4 hours per casino ......................... 3,972 

Total Hourly Burden ............................................ ........................................................ ........................................................ 128,637 

* 106,747.5 rounded to 106,748; 17,916.6 round to 17,917. 

To calculate the hourly costs of the 

burden estimate, FinCEN identified six 

roles and corresponding staff positions 

involved in obtaining and maintain 

records as required by 31 CFR 1021.410: 

(i) General oversight (providing 

institution-level process approval); (ii) 

general supervision (providing process 

oversight); (iii) direct supervision 

(reviewing operational-level work and 

cross-checking all or a sample of the 

work product against supporting 

documentation); (iv) clerical work 

(engaging in research and administrative 

review, and recordkeeping); (v) legal 

compliance (ensuring the records are in 

legal compliance); and (vi) computer 

support (ensuring records can be 

properly stored and retrieved 

electronically if necessary). 

FinCEN calculated the fully-loaded 

hourly wage for each of these six roles 


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Federal Register / Vol. 87, No. 32 / Wednesday, February 16, 2022 / Notices 8939 

20The U.S. Bureau of Labor Statistics, May 2020 

OEWS National Industry-Specific Occupational 

Employment and Wage Estimates (bls.gov). The 

most recent data from the BLS corresponds to May 

2020. For the benefits component of total 

compensation, see U.S. Bureau of Labor Statistics, 

‘‘Table 9. Private industry workers, by major 

occupational group: employer costs per hour 

worked for employee compensation and costs as a 

percentage of total compensation’’, available at 

Employer Costs for Employee Compensation 

Historical Tables—June 2021 (bls.gov). The ratio 

between benefits and wages for private industry 

workers is $10.83 (hourly benefits)/$25.80 (hourly 

wages) = 0.42, as of March 2021. The benefit factor 

is 1 plus the benefit/wages ratio, or 1.42. 

Multiplying each hourly wage by the benefit factor 

produces the fully-loaded hourly wage per position. 

21For each occupation, FinCEN took the average 

of reported mean hourly wage across 9 affected 

financial industries (as measured at the most 

granular NAICS code available, whether at the 2, 3, 

4 or 5 digit NAICS code; see the BLS May 2020 

OEWS National Industry-Specific Occupational 

Employment and Wage Estimates (bls.gov)). 

22 General oversight may include board of 

directors/trustees approval. 

23Chief executive officer is the highest paid 

category in the BLS Occupational Employment 

Statistics. For that reason, FinCEN is conservatively 

estimating the highest wage rate available for its 

cost analysis. 

24By ‘‘in general,’’ FinCEN means without regard 

to outliers (e.g., casinos that conducted transactions 

that warrant recordkeeping that are uncommonly 

higher or lower than those of the population at 

large). By ‘‘on average,’’ FinCEN means the mean 

of the distribution of each subset of the population. 

by using the mean wage estimated by 

the U.S. Bureau of Labor Statistics 

(BLS),20 and computing an additional 

benefits cost as follows: 

TABLE 3—FULLY-LOADED HOURLY WAGE BY ROLE AND BLS JOB POSITION FOR ALL FINANCIAL INSTITUTIONS COVERED

BY THIS NOTICE

Role BLS-code BLS-name Mean hourly 

wage 21

Benefit 

factor 

Fully-loaded 

hourly wage 

General oversight 22 ................................ 11–1010 Chief Executive 23 ................................... $107.12 1.42 $152.11 

General supervision ................................ 11–3031 Financial Manager .................................. 74.59 1.42 105.92

Direct supervision ................................... 13–1041 Compliance Officer ................................. 35.81 1.42 50.85 

Clerical work (research, review, and recordkeeping).43–3099 Financial Clerk ........................................ 23.27 1.42 33.04 

Legal compliance .................................... 23–1010 Lawyers and Judicial Law Clerks ........... 85.66 1.42 121.64 

Computer support ................................... 11–3021 Computer and Information Systems 

Managers.

77.77 1.42 110.43 

FinCEN estimates that, in general and 

on average,24 each role would spend 

different amounts of time on each 

portion of the traditional annual PRA 

burden, as follows: 

TABLE 4—WEIGHTED AVERAGE HOURLY COST OF OBTAINING AND MAINTAINING THE RECORDS REQUIRED UNDER 31 

CFR 1021.410 

Time 

(%) Hourly cost 

General Oversight .................................................................................................................................................... 16.67 $25.35 

General Supervision ................................................................................................................................................ 16.67 17.65 

Direct Supervision .................................................................................................................................................... 16.67 8.48 

Clerical Work ........................................................................................................................................................... 16.67 5.51 

Legal Compliance .................................................................................................................................................... 16.67 20.27 

Computer Support ................................................................................................................................................... 16.67 18.41 

Equal Weighted Average Hourly Cost ............................................................................................................. ........................ * 95.67 

* $95.67 rounded to $96.00. 

The total estimated cost of the 

traditional annual PRA burden is 

$12,349,152, as reflected in Table 5 

below: 

TABLE 5—TOTAL COST OF TRADITIONAL ANNUAL PRA BURDEN

Action Hour burden Hourly cost Total cost 

Complying with recordkeeping requirements under 31 CFR 1021.410(a) & (b)(1)–(9) .............. 106,748 $96 $10,247,808 

Complying with recordkeeping requirements under 31 CFR 1021.410(b)(11) ........................... 17,917 96 1,720,032 

Complying with recordkeeping requirements under 31 CFR 1021.410(c) .................................. 3,972 96 381,312 

Total Cost ............................................................................................................................. ........................ ........................ 12,349,152 

Part 3. Supplemental Annual PRA 

Burden 

In the future, FinCEN intends to add 

a supplemental annual PRA burden 

calculation that will include the 

estimated hourly burden and cost to 

comply with each type of recordkeeping 

requirement covered by the regulations 

being renewed. The future burden 

estimate will also include estimates of 

the number of transactions conducted 

annually by casinos that would trigger 

each recordkeeping requirement. In the 

future, FinCEN intends to obtain an 

estimate of the number of card clubs 


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8940 Federal Register / Vol. 87, No. 32 / Wednesday, February 16, 2022 / Notices 

25See supra note 7. 

26Net hourly burden and cost are the burden and 

cost a financial institution incurs to comply with 

requirements that are unique to the BSA, and that 

do not support any other business purpose or 

regulatory obligation of the financial institution. 

Burden for purposes of the PRA does not include 

the time and financial resources needed to comply 

with an information collection, if the time and 

resources are for things a business (or other person) 

does in the ordinary course of its activities if the 

agency demonstrates that the reporting activities 

needed to comply are usual and customary. 5 CFR 

1320.3(b)(2). For example, depending on the nature 

of the casino’s transactions and accounts, the casino 

may be collecting and maintaining some of the 

same information in order to satisfy other 

obligations including (i) protecting the casino from 

fraud against itself or its customers, (ii) complying 

with other non-BSA regulatory requirements, or (iii) 

improving the casino’s marketing efforts. 

27Because FinCEN does not have a reliable source 

to estimate the number of card clubs that would be 

impacted by this regulation, the estimated number 

of respondents only includes casinos as set out in 

Table 1. 

required to comply with 31 CFR 

1021.410. 

(a) 31 CFR 1021.410(a) and (b)(1)–(9) 25

As noted above, there are practical 

challenges to determining the total 

number of deposits accepted, accounts 

opened, or lines of credit extended by 

each casino annually. In addition, there 

are practical challenges in estimating 

how many records, as described under 

31 CFR 1021.410(b)(1)–(9), are generated 

by each casino each year. In order to 

more accurately estimate the related 

PRA burden in the future, FinCEN 

intends to obtain a better understanding 

of the volume of deposits accepted, 

accounts opened, and lines of credit 

extended per casino and across the 

casino industry in total. In addition, 

FinCEN intends to obtain a better 

understanding of (i) the volume of 

records required to be made and 

retained under 31 CFR 1021.410(b)(1)– 

(9), and (ii) which of these records are 

required to be maintained exclusively 

for complying with the BSA, as opposed 

to complying with other regulatory 

requirements or for practical business 

purposes. 

(b) 31 CFR 1021.410(b)(11) 

As noted above, FinCEN does not 

have a way to estimate the number of 

cash transactions conducted annually 

per card club. In addition, FinCEN does 

not have a source to estimate the 

number of card clubs affected by this 

regulation. In order to more accurately 

estimate the related PRA burden in the 

future, FinCEN intends to obtain a better 

understanding of the volume of cash 

transactions conducted annually per 

card club and across the card club 

industry in total. In addition, FinCEN 

intends to obtain a better understanding 

of the population of card clubs required 

to comply with 31 CFR 1021.410. 

(c) 31 CFR 1021.410(c) 

As noted above, FinCEN has no way 

to determine the volume of transactions 

that would trigger one of the 

recordkeeping requirements under 31 

CFR 1021.410, and of those transactions, 

how many would be retained on a 

computer disk, tape, or other machinereadable media. In the future, FinCEN 

intends to obtain a better understanding 

of the volume of transactions that would 

trigger the recordkeeping requirements 

in 31 CFR 1021.410 per casino, and 

across the casino industry. In addition, 

FinCEN intends to obtain a better 

understanding of how such records are 

stored and maintained, and the burden 

and cost associated with storage and 

maintenance of such records. 

FinCEN does not have the necessary 

information to provide a tentative 

estimate for these supplemental PRA 

hourly burdens and costs within the 

current notice. In addition, FinCEN does 

not have all the necessary information 

to precisely estimate the traditional 

annual PRA burden. For that reason, 

FinCEN is relying on estimates used in 

prior renewals of this OMB control 

number and the applicable regulations. 

FinCEN further recognizes that after 

receiving public comments as a result of 

this notice, future traditional annual 

PRA hourly burden and cost estimates 

may vary significantly. FinCEN intends 

to conduct more granular studies of the 

actions included in the proposed scope 

of the supplemental annual PRA burden 

in the near future, to arrive at more 

precise estimates of net BSA hourly 

burden and cost.26 The data obtained in 

these studies also may result in a 

significant variation of the estimated 

traditional annual PRA burden. 

Estimated Number of Respondents: 

993, as set out in Table 1.27

Estimated Total Annual 

Recordkeeping Burden: The estimated 

total annual PRA burden is 128,637 

hours, as set out in Table 2. 

Estimated Total Annual 

Recordkeeping Cost: The estimated total 

annual PRA cost is $12,349,152 as set 

out in Table 5. 

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 BSA must be retained for five years. 

Part 4. Request for Comments 

(a) Specific request for comments on 

the traditional annual PRA hourly 

burden and cost. 

FinCEN invites comments on any 

aspect of the traditional annual PRA 

burden, as set out in Part 2 of this 

notice. In particular, FinCEN seeks 

comments on the adequacy of: (i) 

FinCEN’s assumptions underlying its 

estimate of the burden; (ii) the estimated 

number of hours required by each 

portion of the burden; and (iii) the 

organizational levels of the casinos 

engaged in each portion of the burden, 

their estimated hourly remuneration, 

and the estimated proportion of 

participation by each role. FinCEN 

encourages commenters to include any 

publicly available sources for alternative 

estimates or methodologies. 

(b) Specific request for comments on 

the proposed criteria for determining 

the scope of a supplemental annual 

PRA hourly burden and cost estimate. 

FinCEN invites comments on any 

aspect of the criteria for a future 

estimate of the supplemental annual 

PRA burden, as set out in Part 3 of this 

notice. 

(c) Specific request for comments on 

the appropriate criteria and 

methodology required to obtain 

information to more precisely estimate 

the supplemental annual PRA hourly 

burden and cost. 

FinCEN invites comments on the most 

appropriate and comprehensive way to 

ask casinos about the annual hourly 

burden and cost attributable solely to 

the regulations covered by this notice 

(i.e., the hourly burden and cost of 

complying with the recordkeeping 

requirements imposed exclusively by 

the BSA, which are not used to satisfy 

contractual obligations, other regulatory 

requirements, or business purposes of 

the casino). 

The supplemental annual PRA hourly 

burden and cost estimate of the 

recordkeeping necessary to comply with 

the additional recordkeeping 

requirements for casinos must take into 

consideration the information collected 

and recorded that is used exclusively for 

complying with requirements under 31 

CFR 1021.410. Given the complexity in 

determining what portion of the effort to 

include in the estimate, FinCEN seeks 

comments from the public regarding any 

questions we should consider posing in 

future notices, in addition to the 

specific questions for comment outlined 

directly below. Also, due to the evident 

difficulty involved in estimating the 

number of transaction accounts, lines of 

credit, and transactions that trigger 

recordkeeping requirements as 


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Federal Register / Vol. 87, No. 32 / Wednesday, February 16, 2022 / Notices 8941 

28Comments submitted in response to this notice 

will become a matter of public record. Therefore, 

commenters should submit only information that 

can be made publicly available. 

described in this notice FinCEN 

welcomes any suggestions as to how to 

derive these estimates by using publicly 

available financial information. 

(d) Specific questions for comment 

associated with making and retaining 

the records required by the regulations 

described in this notice (if the 

commenter is a casino or card club, 

FinCEN asks that the comment provide 

information particular to that casino or 

card club): 28

(1) Complying With 31 CFR 1021.410(a) 

• On average, how many deposits of 

funds does a casino accept annually? 

• On average, how many accounts 

does a casino open annually? 

• On average, how many lines of 

credit does a casino extend annually? 

• On average, how long does it take 

a casino to collect, verify, and retain the 

records required to be maintained when 

it accepts a deposit, opens an account, 

or extends a line of credit? 

(2) Complying With 31 CFR 

1021.410(b)(1)–(9) 

• On average, how often does a casino 

conduct each of the transactions 

described in 31 CFR 1021.410(b), as 

explained in further detail in Section I 

above? 

• On average, how long does it take 

a casino to collect and retain the records 

required to be maintained when it 

conducts one of the transactions 

described in 31 CFR 1021.410(b)? 

• How many of the records required 

to be made and retained under 31 CFR 

1021.410(b) does a casino make and 

retain exclusively to comply with the 

BSA? How many of these records does 

a casino make and retain for other 

business or regulatory purposes, and 

what are those purposes? 

(3) Complying With 31 CFR 

1021.410(b)(11) 

• Is there a public source that FinCEN 

can utilize to estimate the number of 

card clubs required to comply with 31 

CFR 1021.410? 

• On average, how many cash 

transactions are conducted annually by 

a card club? 

• Are the records required to be 

maintained under 31 CFR 

1021.410(b)(11) recorded and 

maintained exclusively to comply with 

the BSA, or does a card club make and 

retain any of these records for other 

business or regulatory purposes? If so, 

what are those purposes? 

(4) Complying With 31 CFR 1021.410(c) 

• On average, how long does it take 

a casino to input and retain the records 

required to be maintained by 31 CFR 

1021.410 on computer disk, tape, or 

other machine-readable media, if a 

casino retains the required records in 

such a format? 

• On average, what are the estimated 

costs for a casino to retain all of the 

records described in 31 CFR 1021.410 

on computer disk, tape, or other 

machine-readable media for a period of 

five years? 

(e) General 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: (i) 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; 

(ii) the accuracy of the agency’s estimate 

of the burden of the collection of 

information; (iii) ways to enhance the 

quality, utility, and clarity of the 

information to be collected; (iv) 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 (v) estimates of capital 

or start-up costs and costs of operation, 

maintenance, and purchase of services 

to provide information. 

Himamauli Das, 

Acting Director, Financial Crimes 

Enforcement Network. 

[FR Doc. 2022–03260 Filed 2–15–22; 8:45 am] 

BILLING CODE 4810–02–P 

DEPARTMENT OF THE TREASURY 

Agency Information Collection 

Activities; Proposed Collection; 

Comment Request; Collection of Data 

From Property and Casualty Insurers 

for Reports Concerning the Terrorism 

Risk Insurance Program 

AGENCY: Departmental Offices, 

Department of the Treasury. 

ACTION: Notice, request for comment. 

SUMMARY: The Department of the 

Treasury will submit the following 

information collection requests to the 

Office of Management and Budget 

(OMB) for review and clearance in 

accordance with the Paperwork 

Reduction Act of 1995, on or after the 

date of publication of this notice. The 

public is invited to submit comments on 

these requests. 

DATES: Comments must be received on 

or before March 18, 2022. 

ADDRESSES: Written comments and 

recommendations for the proposed 

information collection should be sent 

within 30 days of publication of this 

notice to www.reginfo.gov/public/do/ 

PRAMain. Find this particular 

information collection by selecting 

‘‘Currently under 30-day Review—Open 

for Public Comments’’ or by using the 

search function. 

FOR FURTHER INFORMATION CONTACT: 

Copies of the submissions may be 

obtained from Molly Stasko by emailing 

PRA@treasury.gov, calling (202) 622– 

8922, or viewing the entire information 

collection request at www.reginfo.gov. 

SUPPLEMENTARY INFORMATION: 

Departmental Offices (DO) 

Title: Collection of Data from Property 

and Casualty Insurers for Reports 

Concerning the Terrorism Risk 

Insurance Program. 

OMB Control Number: 1505–0257. 

Type of Review: Revision of a 

currently approved collection. 

Description: Pursuant to the Terrorism 

Risk Insurance Act of 2002 (TRIA), the 

Federal Insurance Office (FIO) requests 

public feedback on the proposed 

revisions to the data collection forms for 

the 2022 data call. Treasury has 

determined that changes to the existing 

forms are required in support of the 

administration of the Terrorism Risk 

Insurance Program (Program) to obtain 

more detailed information in two 

general areas: (1) Captive insurers; and 

(2) cyber insurance. There are two 

general categories of material changes to 

the proposed reporting templates for 

2022—one that applies solely to captive 

insurers, and the second that applies to 

the Cyber worksheet, which is 

contained in all templates and is to be 

completed by all participating insurers 

that write cyber insurance. 

Treasury’s advisory committee in 

connection with the Program, the 

Advisory Committee on Risk-Sharing 

Mechanisms, recommended in 2020 that 

Treasury evaluate the manner in which 

captive insurers access the Program in 

order to ensure that the risk-sharing 

principles underlying the Program are 

being met. In furtherance of that goal 

and Treasury’s administration of the 

Program, Treasury has proposed to 

require more detailed information 

concerning the terrorism risk insurance 

subject to the Program written by 

captive insurers as well as the insurance 

they provide more generally. 

The proposed changes for captive 

insurers will require them to report 

much of the same information as 


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