Voglio sapere a riguardo di…

khammond on DSKJM1Z7X2PROD with NOTICES

11380

Federal Register / Vol. 86, No. 35 / Wednesday, February 24, 2021 / Notices
requirements for casinos. Section 352 of the USA PATRIOT Act added subsection h to 31 U.S.C. 5318 of the BSA. Section 352 mandates that financial institutions establish AML
programs to guard against money laundering. Such AML programs must include, at a minimum, the following:
a The development of internal policies, procedures, and controls, b the designation of a compliance officer, c an ongoing employee training program, and d an independent audit function to test programs. Pursuant to section 352, FinCEN issued a regulation requiring casinos to develop and implement written AML programs.
Form: Not applicable.
Affected Public: Businesses or other for-profit institutions; and Not-for-profit institutions.
Estimated Number of Respondents:
993.
Frequency of Response: As required.
Estimated Time per Response: 1 hour per casino for maintaining and updating the AML program, 5 minutes per casino for storing the written AML program, 5
minutes per casino for producing a copy of the AML program if requested by regulatory examiners or law enforcement; and 99 hours per casino for complying with the requirements in 31 CFR 1021.210b2v and vi.
Estimated Total Annual Burden Hours: 99,466 hours.
4. Title: Reports and records of certain domestic transactions 31 U.S.C. 5326;
31 CFR 1010.370 and 1010.410d.
OMB Control Number: 15060056.
Type of Review: Extension without change of a currently approved collection.
Description: FinCEN is issuing this notice to renew the OMB control number for statutes and regulations requiring reports and records of certain domestic transactions. Congress amended the Bank Secrecy Act BSA in 1988 to give the Secretary the authority to issue orders under 31 U.S.C. 5326 by passing Public Law 100690, Title VI, 6185c. This provision was later amended to permit issuance of confidential orders, lengthen the effective period of orders to 180 days, cover transactions involving transfers of funds, and to clarify that orders can be issued upon reasonable grounds for concluding that additional requirements are necessary to carry out the purposes of the subtitle of which 31 U.S.C. 5326
is a part, or to prevent evasions thereof.
See Public Law 102550, Title XV, 1514; Public Law 10756, 353d;
Public Law 11544, 275.
Under 31 U.S.C. 5326a, if the Secretary finds that reasonable grounds exist for concluding that additional
VerDate Sep<11>2014

17:21 Feb 23, 2021

Jkt 253001

recordkeeping and reporting are necessary to carry out the purpose of the BSA or to prevent evasions thereof, the Secretary may issue an order requiring any domestic financial institution or nonfinancial trade or business or group of domestic financial institutions or nonfinancial trades or businesses in a geographic area to obtain such information as the Secretary may describe in such order concerning certain transactions.
The authority set forth in 31 U.S.C.
5326 to impose reporting and recordkeeping requirements is selfimplementing. Section 5326a generally requires domestic financial institutions or nonfinancial trades or businesses in a geographic area that receive an order to report, in the manner and to the extent specified in an order, information concerning any transaction in which such financial institution or nonfinancial trade or business is involved for the payment, receipt, or transfer of funds as the Secretary may describe in such order. An order typically will include the following terms: i The dollar amount of transactions subject to the reporting requirement; ii the type of transactions subject to or exempt from the reporting requirement; iii the appropriate form for reporting and the method for form submission; iv the starting and ending dates by which the transactions specified in the order are to be reported;
v a point of contact at FinCEN for questions; vi the amount of time the reports and records of reports generated are required to be retained; and vii any other information deemed necessary to carry out the purpose of the order.
Pursuant to 31 U.S.C. 5326d, no order will prescribe a reporting period of more than 180 days unless it is renewed pursuant to 31 U.S.C. 5326a. These orders are commonly referred to as geographic targeting orders GTOs.
31 CFR 1010.410d requires each financial institution or nonfinancial trade or business to retain the original or a copy or reproduction of a record of the information required to be reported in a GTO for the period of time specified in the order, not to exceed five years.
Form: Not applicable.
Affected Public: Businesses or other for-profit institutions; and Not-for-profit institutions.
Estimated Number of Respondents:
353.
Frequency of Response: As required.
Estimated Total Number of Annual Responses: 13,719.
Estimated Time per Response: 25
minutes.
Estimated Total Annual Burden Hours: 5,716 hours.

PO 00000

Frm 00164

Fmt 4703

Sfmt 4703

5. Title: Records to be made and retained by financial institutions 31
CFR 1010.410, records to be made and retained by banks 31 CFR 1020.410, and additional records to be maintained by providers and sellers of prepaid access 31 CFR 1022.420.
OMB Control Number: 15060058 and 15060059.
Type of Review: Extension without change of a currently approved collection.
Description: FinCEN is issuing this notice to renew the OMB control numbers for regulations requiring certain financial institutions to make and retain records associated with certain types of transactions, including funds transfers, transmittals of funds, and prepaid access transactions, among other types of transactions.
On January 3, 1995, Treasury and the Board jointly issued a recordkeeping rule the Recordkeeping Rule that requires banks and nonbank financial institutions to collect and retain information related to funds transfers and transmittals of funds in amounts of $3,000 or more. The Recordkeeping Rule is intended to help law enforcement and regulatory authorities to detect, investigate, and prosecute money laundering, and other financial crimes by preserving an information trail about persons sending and receiving funds through the funds transfer system.
At the same time, FinCEN issued a separate rulethe Travel Rulethat requires banks and nonbank financial institutions to transmit information on certain funds transfers and transmittals of funds to other banks or nonbank financial institutions participating in the transfer or transmittal. The Travel Rule and the Recordkeeping Rule complement each other. Generally, the Recordkeeping Rule requires financial institutions to collect and retain the information that, under the Travel Rule, must be included with transmittal orders, although the Recordkeeping Rule also has other applications apart from ensuring that information is available to include with funds transfers. FinCEN issued the Travel Rule pursuant to statutory authority that permits the Treasury to require domestic financial institutions or nonfinancial trades or businesses to maintain appropriate procedures to ensure compliance with the Bank Secrecy Act BSA or to guard against money laundering, and to establish AML programs.
The Recordkeeping Rule is codified at 31 CFR 1020.410a and 1010.410e, and the Travel Rule is codified at 31
CFR 1010.410f. This notice proposes to
E:FRFM24FEN1.SGM

24FEN1