41186 Federal Register / Vol. 87, No. 131 / Monday, July 11, 2022 / Notices 

1 12 CFR part 30, appendix B, supplement A. 

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). 

section 501(b), require each entity 

supervised by the OCC to consider and 

adopt a response program, as 

appropriate, that specifies actions to be 

taken when the supervised institution 

suspects or detects that unauthorized 

individuals have gained access to 

customer information. 

The Interagency Guidance on 

Response Programs for Unauthorized 

Access to Customer Information and 

Customer Notice (Breach Notice 

Guidance),1 which interprets the 

Security Guidelines, states that, at a 

minimum, a supervised institution’s 

response program should contain 

procedures for: 

(1) Assessing the nature and scope of 

an incident, and identifying what 

customer information systems and types 

of customer information have been 

accessed or misused; 

(2) Notifying its primary Federal 

regulator as soon as possible when the 

supervised institution becomes aware of 

an incident involving unauthorized 

access to, or use of, sensitive customer 

information; 

(3) Notifying appropriate law 

enforcement authorities in situations 

involving Federal criminal violations 

requiring immediate attention, such as 

when a reportable violation is ongoing, 

consistent with the OCC’s Suspicious 

Activity Report regulations; 

(4) Taking appropriate steps to 

contain and control the incident in an 

effort to prevent further unauthorized 

access to, or use of, customer 

information, for example, by 

monitoring, freezing, or closing affected 

accounts, while preserving records and 

other evidence; and 

(5) Notifying customers when 

warranted. 

The Breach Notice Guidance states 

that, when a financial institution 

becomes aware of an incident of 

unauthorized access to sensitive 

customer information, the institution 

should conduct a reasonable 

investigation to promptly determine the 

likelihood that the information has been 

or will be misused. If the institution 

determines that the misuse of its 

information about a customer has 

occurred or is reasonably possible, it 

should notify the affected customer as 

soon as possible. 

Type of Review: Regular. 

Affected Public: Businesses or other 

for-profit. 

Estimated Number of Respondents: 

20. 

Total Estimated Annual Burden: 720 

hours. 

Frequency of Response: On occasion. 

On April 8, 2022, the OCC published 

a 60-day notice for this information 

collection, 87 FR 20932. No comments 

were received. Comments continue to be 

invited on: 

(a) Whether the collection of 

information is necessary for the proper 

performance of the functions of the 

OCC, including whether the information 

has practical utility; 

(b) The accuracy of the OCC’s 

estimate of the burden of the 

information collection; 

(c) Ways to enhance the quality, 

utility, and clarity of the information to 

be collected; 

(d) Ways to minimize the burden of 

the collection 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. 

Theodore J. Dowd, 

Deputy Chief Counsel, Office of the 

Comptroller of the Currency. 

[FR Doc. 2022–14630 Filed 7–8–22; 8:45 am] 

BILLING CODE 4810–33–P 

DEPARTMENT OF THE TREASURY 

Financial Crimes Enforcement Network 

Agency Information Collection 

Activities; Proposed Renewal; 

Comment Request; Renewal Without 

Change on Information Sharing 

Between Government Agencies and 

Financial Institutions 

AGENCY: Financial Crimes Enforcement 

Network (FinCEN), Treasury. 

ACTION: Notice and request for 

comments. 

SUMMARY: As part of its continuing 

efforts 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 

concerning information sharing between 

government agencies and financial 

institutions. Specifically, the regulations 

require that, upon receiving an 

information request from FinCEN, a 

financial institution must search its 

records to determine whether it 

maintains or has maintained any 

account or engaged in any transaction 

with an individual, entity, or 

organization named in the request. If a 

financial institution identifies an 

account or transaction named in the 

request, it must report such information 

to FinCEN in the manner and timeframe 

specified in the request. This request for 

comment is being made pursuant to the 

Paperwork Reduction Act of 1995. 

DATES: Written comments are welcome 

and must be received on or before 

September 9, 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– 

0008 and the specific Office of 

Management and Budget (OMB) control 

number 1506–0049. 

• Mail: Policy Division, Financial 

Crimes Enforcement Network, P.O. Box 

39, Vienna, VA 22183. Refer to Docket 

Number FINCEN–2022–0008 and OMB 

control number 1506–0049. 

Please submit comments by one 

method only. Comments will be 

reviewed consistent with the Paperwork 

Reduction Act of 1995 (PRA) 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 

https://www.fincen.gov/contact. 

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. 1951–1960, 31 

U.S.C. 5311–5314 and 5316–5336, and 

includes notes thereto, with 

implementing regulations at 31 CFR 

chapter X. 

The BSA authorizes the Secretary of 

the Treasury, 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 


khammond on DSKJM1Z7X2PROD with NOTICES
Federal Register / Vol. 87, No. 131 / Monday, July 11, 2022 / Notices 41187 

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). 

4FinCEN, Final Rule—Special Information 

Sharing Procedures to Deter Money Laundering and 

Terrorist Activity, 67 FR 60579, (Sept. 26, 2002). 

5FinCEN, Final Rule—Expansion of Special 

Information Sharing Procedures To Deter Money 

Laundering and Terrorist Activity, 75 FR 6560, 

(Feb. 10, 2010). 

6 Defined for the purposes of this requirement at 

31 CFR 1010.520(a)(1). 

7As defined at 31 CFR 1010.505(d). 

8The PRA does not apply to the requirement in 

section 1010.520(b) concerning reports by financial 

institutions in response to a request from FinCEN 

on behalf of a Federal law enforcement agency. See 

5 CFR 1320.4(a)(2). Therefore, this renewal applies 

only to the use of the 314(a) requests with respect 

to queries initiated by non-Federal law enforcement 

entities. 

9On an annual basis, FinCEN sends 314(a) 

requests to approximately 14,960 financial 

institutions, consisting of certain commercial banks, 

savings associations, and credit unions, broker or 

dealers in securities, future commission merchants, 

trust companies, life insurance companies, mutual 

funds and money services businesses. 

10Based on the number of 314(a) requests issued 

between May 2021 and April 2022, FinCEN 

estimates the annual number of requests subject to 

the PRA to include: 3 from FinCEN, 45 from state/ 

local law enforcement, and 9 from European Union 

countries approved by treaty, for a total of 57 

requests per year, with each request containing an 

average of 6.4 subjects (including aliases). 57 

requests multiplied by 6.4 subjects per request 

equals 364.8 (rounded up to 365) searches and 

potential responses annually. 

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

The USA PATRIOT Act charged the 

Department of the Treasury (Treasury) 

with developing regulations to facilitate 

information sharing among 

governmental entities and financial 

institutions for the purpose of 

combatting terrorism and money 

laundering. On September 26, 2002, 

FinCEN published a final rule 

implementing the authority contained 

in section 314(a) of the USA PATRIOT 

Act.4 The rule required financial 

institutions, upon FinCEN’s request 

(‘‘314(a) request’’), to search their 

records to determine whether they have 

maintained an account or conducted a 

transaction with a person that a Federal 

law enforcement agency has certified is 

suspected, based on credible evidence, 

of engaging in terrorist activity or 

money laundering. The rule was 

expanded on February 10, 2010, to 

enable certain entities other than 

Federal law enforcement agencies to 

benefit from 314(a) requests to industry. 

As amended, the rule also enables 

certain foreign law enforcement 

agencies, state and local law 

enforcement agencies, and FinCEN 

itself, on its own behalf and on behalf 

of appropriate components of Treasury, 

to initiate 314(a) requests.5 Before 

processing a request, FinCEN requires 

the requesting agency to certify that, in 

the case of money laundering, the 

matter is significant, and that the 

requesting agency has been unable to 

locate the information sought through 

traditional methods of investigation and 

analysis. The regulations implementing 

the rules are found at 31 CFR 1010.520. 

31 CFR 1010.520(b)(3)(i) requires 

financial institutions,6 upon receiving a 

314(a) request, to search their records to 

determine whether they maintain, or 

have maintained, an account for, or 

engaged in any transaction with, each 

individual, entity, or organization 

named in a 314(a) request. Unless noted 

otherwise in a request, financial 

institutions are only required to search 

their records for the following: (i) 

current accounts maintained for the 

named suspect; (ii) any account 

maintained for a named suspect during 

the preceding twelve months; and (iii) 

any transactions 7 conducted by or on 

behalf of a named suspect, or any 

transmittal of funds conducted in which 

the named suspect was either the 

transmittor or the recipient, during the 

preceding six months, which are 

recorded and maintained electronically. 

31 CFR 1010.520(b)(3)(ii) requires 

financial institutions that identify 

accounts or transactions for the subject 

of a 314(a) request to report the match 

to FinCEN in the manner and timeframe 

specified by FinCEN. 31 CFR 

1010.520(b)(3)(iii) requires financial 

institutions to designate one person to 

be the point of contact at the institution 

to receive 314(a) requests. 

II. Paperwork Reduction Act of 1995 8

Title: Information sharing between 

government agencies and financial 

institutions (31 CFR 1010.520). 

OMB Control Number: 1506–0049. 

Report Number: Not applicable. 

Abstract: FinCEN is issuing this 

notice to renew the OMB control 

number for regulations requiring 

information sharing between 

government agencies and financial 

institutions. 

Affected Public: Businesses or other 

for-profit and non-profit institutions. 

Type of Review: Renewal without 

change of a currently approved 

collection. 

Frequency: As required. 

Estimated Number of Respondents: 

14,960.9

Estimated Annual Responses per 

Respondent: 365 searches/responses.10

Estimated Reporting and 

Recordkeeping Burden: 

In general, FinCEN receives requests 

from law enforcement, reviews those 

requests, posts those requests on a 

secure internet website, and sends 

notifications to designated contacts 

within financial institutions across the 

United States once every two weeks. A 

314(a) request contains subject and 

business names, addresses, and as much 

identifying data as possible to assist 

financial institutions in searching their 

records. Financial institutions must 

query their records for data matches, 

including accounts maintained by the 

named subject during the preceding 12 

months and transactions conducted 

within the last six months. Financial 

institutions have two weeks from the 

posting date of the request to respond 

with any positive matches. Financial 

institutions are instructed not to reply to 

the 314(a) request if a search does not 

uncover any matching of accounts or 

transactions. 

Currently, 100% of 314(a) responses 

are filed using automated technology. 

The 314(a) files are posted on FinCEN’s 

secure website. The files are available 

for download in .csv, .txt, and .doc 

format to allow for ingestion into 

various software that financial 

institutions use to run searches against 

their systems. All positive responses can 

be submitted through FinCEN’s secure 

website by checking the box next to 

each subject for which there is a match 

and clicking the ‘‘submit’’ button to 

transmit the responses to FinCEN. 

Providing downloads in a variety of 

formats reduces burden on financial 

institutions by allowing them to 

automate the search of their records in 

a format that is compatible with their 

software and systems. 

For the following reasons, FinCEN 

estimates that it will take approximately 

4 minutes to research and report, as 

necessary, each subject of a 314(a) 

request: 

• Financial institutions have well 

established processes, and in most cases 

automated processes, in place to 

conduct 314(a) searches, given the 20 

years that the program has been 

running. 

• Financial institutions are only 

required to search their records for 

account and transaction information 

that is maintained electronically. 


khammond on DSKJM1Z7X2PROD with NOTICES
41188 Federal Register / Vol. 87, No. 131 / Monday, July 11, 2022 / Notices 

11See supra note 5. 

12FinCEN estimates each subject requires 4 

minutes to research and report, resulting in 

approximately 24 hours per year per respondent 

(365 searches/responses multiplied by 4 minutes 

per subject and divided by 60 minutes). FinCEN 

welcomes comments on the accuracy of this 

assumption. 

13The total annual burden computation is as 

follows: approximately 24 hours per year per 

respondent multiplied by 14,960 respondents 

equals 363,827 hours. 

14The total annual cost computation is as follows: 

363,827 hours times the financial institution fully 

loaded wage estimate of $95 per hour equals 

$34,563,565. To estimate an average hourly 

financial institution employee wage, FinCEN uses 

hourly wage data for the following six occupations 

in each of the nine categories of covered financial 

institutions that face BSA requirements: chief 

executives (OCC-code: 11–1010); financial 

managers (OCC-code: 11–3031); compliance officers 

(OCC-code: 13–1041); financial clerks (OCC-code: 

43–3099); lawyers and judicial clerks (OCC-code: 

23–1010); and computer and information systems 

managers (OCC-code: 11–3021). The 54 hourly wage 

estimate inputs (9 financial industry categories 

multiplied by six occupations) yield a 

comprehensive financial institution hourly wage 

estimate of $67.23. The ratio between benefits and 

wages for private industry workers is $11.22 (hourly 

benefits)/$26.86 (hourly wages) = 0.42, as of 

December 2021. The benefit factor is 1 plus the 

benefit/wages ratio, or 1.42. See U.S. Bureau of 

Labor Statistics, ‘‘Employer Costs for Employee 

Compensation Historical Listing,’’ https://

www.bls.gov/web/ecec/ececqrtn.pdf. The private 

industry workers series data for December 2021 is 

available at https://www.bls.gov/web/ecec/ececprivate-dataset.xlsx. Multiplying the hourly wage 

estimate of $67.23 by the benefits factor of 1.42 and 

rounding to the nearest dollar produces a fully 

loaded hourly compensation amounts of $95 per 

hour. 

• Only positive responses confirming 

a match are required to be reported to 

FinCEN by checking a box 

corresponding to the match on FinCEN’s 

secure website. 

• FinCEN has been estimating a 

burden of 4 minutes per subject in PRA 

renewals since the expansion of the rule 

in 2010.11 We have not received public 

comments questioning or contradicting 

this estimate. 

Estimated Burden Hours per 

Respondent: 24 hours annually.12

Estimated Total Annual Burden 

Hours: 363,827.13

Estimated Total Annual Cost: 

$34,563,565.14

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. 

Request for Comments 

(a) Specific request for comments on 

the PRA hourly burden and cost. 

FinCEN invites comments on any 

aspect of the PRA burden set out in 

section II 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 amount of time per 

subject; and (iii) the organizational 

levels of employees engaged in 

responding to requests. 

(b) Specific questions for comment 

regarding compliance with information 

requests as outlined in 31 CFR 1010.520 

(if the commenter represents a financial 

institution, FinCEN asks that the 

comment provide information particular 

to that financial institution.) 

1. To what extent can a financial 

institution rely on existing software to 

conduct its 314(a) search? 

2. On average, how long does it take 

your financial institution to perform a 

search for a particular subject of a 314(a) 

request (‘‘314(a) subject’’)? 

3. How often does your financial 

institution generate a positive match to 

a 314(a) subject that requires additional 

research to confirm if the account or 

transaction is in fact connected to that 

subject? 

4. What steps does your financial 

institution take once your automated 

system generates a match to a 314(a) 

subject to determine if it is an actual 

match or a false positive? What type of 

records does your financial institution 

maintain to document the results of this 

type of research? 

5. How frequently does your financial 

institution’s automated system identify 

matches to a 314(a) subject that 

ultimately result in a false positive? 

6. What type of records does your 

financial institution maintain to 

document that a 314(a) search has been 

conducted? 

7. What is the role of the individual 

at your financial institution that acts as 

the point of contact for 314(a) requests? 

8. Is more than one employee at your 

financial institution involved in 

conducting the biweekly 314(a) 

searches? 

9. Does senior management play a role 

in reviewing the results of your 

financial institution’s biweekly search 

for subjects of 314(a) requests? 

(c) 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: (1) 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; 

(2) the accuracy of the agency’s estimate 

of the burden of the collection of 

information; (3) ways to enhance the 

quality, utility, and clarity of the 

information to be collected; (4) 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 (5) 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. 2022–14638 Filed 7–8–22; 8:45 am] 

BILLING CODE 4810–02–P 

DEPARTMENT OF THE TREASURY 

Internal Revenue Service 

Open Meeting of the Taxpayer 

Advocacy Panel Taxpayer Assistance 

Center Improvements Project 

Committee 

AGENCY: Internal Revenue Service (IRS), 

Treasury. 

ACTION: Notice of meeting. 

SUMMARY: An open meeting of the 

Taxpayer Advocacy Panel’s Taxpayer 

Assistance Center Improvements Project 

Committee will be conducted. The 

Taxpayer Advocacy Panel is soliciting 

public comments, ideas, and 

suggestions on improving customer 

service at the Internal Revenue Service. 

This meeting will still be held via 

teleconference. 

DATES: The meeting will be held 

Thursday, August 11, 2022. 

FOR FURTHER INFORMATION CONTACT: 

Matthew O’Sullivan at 1–888–912–1227 

or (510) 907–5274. 

SUPPLEMENTARY INFORMATION: Notice is 

hereby given pursuant to Section 

10(a)(2) of the Federal Advisory 

Committee Act, 5 U.S.C. App. (1988) 

that an open meeting of the Taxpayer 

Advocacy Panel’s Taxpayer Assistance 

Center Improvements Project Committee 

will be held Thursday, August 11, 2022, 

at 3:00 p.m. Eastern Time. The public is 

invited to make oral comments or 

submit written statements for 

consideration. Due to limited time and 

structure of meeting, notification of 

intent to participate must be made with 

Matthew O’Sullivan. For more 

information please contact Matthew 

O’Sullivan at 1–888–912–1227 or (510) 

907–5274, or write TAP Office, 1301 

Clay Street, Oakland, CA 94612–5217 or 

contact us at the website: http://

www.improveirs.org. The agenda will 

include various IRS issues. 

Dated: July 5, 2022. 

Kevin Brown, 

Acting Director, Taxpayer Advocacy Panel. 

[FR Doc. 2022–14646 Filed 7–8–22; 8:45 am] 

BILLING CODE 4830–01–P 


khammond on DSKJM1Z7X2PROD with NOTICES