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[Federal Register Volume 89, Number 231 (Monday, December 2, 2024)]
[Notices]
[Page 95357]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-28099]

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DEPARTMENT OF THE TREASURY

Agency Information Collection Activities; Submission for OMB 
Review; Comment Request; Purchases of Bank Checks and Drafts, Cashier's 
Checks, Money Orders, and Traveler's Checks

AGENCY: Departmental Offices, U.S. Department of the Treasury.

ACTION: Notice of information collection; request for comment.

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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 should be received on or before January 2, 2025 to be 
assured of consideration.

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 Spencer W. Clark by emailing [email protected], calling 
(202) 927-5331, or viewing the entire information collection request at 
www.reginfo.gov.

SUPPLEMENTARY INFORMATION:

Financial Crimes Enforcement Network (FinCEN)

    Title: Purchases of Bank Checks and Drafts, Cashier's Checks, Money 
Orders, and Traveler's Checks.
    OMB Control Number: 1506-0057.
    Type of Review: Extension without change of a currently approved 
collection.
    Description: The Bank Secrecy Act (BSA) prohibits financial 
institutions from issuing any ``bank check, cashier's check, traveler's 
check, or money order to any individual in connection with a 
transaction or group of such contemporaneous transactions which 
involves United States coins or currency (or such other monetary 
instruments as the Secretary may prescribe) in amounts or denominations 
of $3,000 or more'' unless (1) the financial institution verifies, 
through a signature card or other account documentation or information, 
that the individual has a transaction account with the financial 
institution, and records the method of verification in accordance with 
regulations issued by the Secretary; or (2) the individual furnishes 
the financial institution with such forms of identification as the 
Secretary may require by regulation, and the financial institution 
verifies and records such information in accordance with regulations 
issued by the Secretary. To implement these requirements, FinCEN issued 
a regulation requiring financial institutions to maintain records 
related to the issuance or sale of bank checks and drafts, cashier's 
checks, money orders, and traveler's checks. The regulation applies to 
all financial institutions as defined in 31 CFR 1010.100(t). However, 
it is FinCEN's experience that banks and money services businesses 
(MSBs) are more likely than other categories of financial institution 
to issue or sell bank checks and drafts, cashier's checks, money 
orders, and traveler's checks.
    Under 31 CFR 1010.415, financial institutions are required to 
maintain records of certain information related to the issuance or sale 
of bank checks and drafts, cashier's checks, money orders, and 
traveler's checks when the issuance or sale involves currency between 
$3,000 and $10,000, inclusive, to any individual purchaser of one or 
more of these instruments.
    Form: None.
    Affected Public: Businesses or other for-profits.
    Estimated Number of Respondents: 23,207.
    Frequency of Response: On occasion.
    Estimated Total Number of Annual Responses: 23,207.
    Estimated Time per Response: 7.5 hours.
    Estimated Total Annual Burden Hours: 174,053.
    Authority: 44 U.S.C. 3501 et seq.

Spencer W. Clark,
Treasury PRA Clearance Officer.
[FR Doc. 2024-28099 Filed 11-29-24; 8:45 am]
BILLING CODE 4810-02-P
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