Agency Information Collection Activities: Information Collection Renewal; Submission for OMB Review; Minimum Security Devices and Procedures, Reports of Suspicious Activities, and Bank Secrecy Act Compliance Program
| Published date | 29 July 2019 |
| Citation | 84 FR 36658 |
| Record Number | 2019-15959 |
| Section | Notices |
| Court | The Comptroller Of The Currency Office |
Federal Register, Volume 84 Issue 145 (Monday, July 29, 2019)
[Federal Register Volume 84, Number 145 (Monday, July 29, 2019)]
[Notices]
[Pages 36658-36659]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-15959]
=======================================================================
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Office of the Comptroller of the Currency
Agency Information Collection Activities: Information Collection
Renewal; Submission for OMB Review; Minimum Security Devices and
Procedures, Reports of Suspicious Activities, and Bank Secrecy Act
Compliance Program
AGENCY: Office of the Comptroller of the Currency (OCC), Department of
the Treasury.
ACTION: Notice and request for comments.
-----------------------------------------------------------------------
SUMMARY: The OCC, as part of its continuing effort to reduce paperwork
and respondent burden, invites the general public and other federal
agencies to take this opportunity to comment on information collections
as required by the Paperwork Reduction Act of 1995 (PRA).
In accordance with the requirements of the PRA, the OCC may not
conduct or sponsor, and the respondent is not required to respond to,
an information collection unless it displays a currently valid Office
of Management and Budget (OMB) control number.
The OCC is soliciting comment concerning renewal of its information
collection titled, ``Minimum Security Devices and Procedures, Reports
of Suspicious Activities, and Bank Secrecy Act Compliance Program.''
The OCC also is giving notice that it has sent the collection to OMB
for review.
DATES: Written comments should be received on or before August 28,
2019.
ADDRESSES: Commenters are encouraged to submit comments by email, if
possible. You may submit comments by any of the following methods:
Email: [email protected].
Mail: Chief Counsel's Office, Attention: Comment
Processing, 1557-0180, Office of the Comptroller of the Currency, 400
7th Street SW, Suite 3E-218, Washington, DC 20219.
Hand Delivery/Courier: 400 7th Street SW, Suite 3E-218,
Washington, DC 20219.
Fax: (571) 465-4326.
Instructions: You must include ``OCC'' as the agency name and
``1557-0180'' in your comment. In general, the OCC will publish
comments on www.reginfo.gov without change, including any business or
personal information provided, such as name and address information,
email addresses, or phone numbers. Comments received, including
attachments and other supporting materials, are part of the public
record and subject to public disclosure. Do not include any information
in your comment or supporting materials that you consider confidential
or inappropriate for public disclosure.
Additionally, please send a copy of your comments by mail to: OCC
Desk Officer, 1557-0180, U.S. Office of Management and Budget, 725 17th
Street NW, #10235, Washington, DC 20503 or by email to
[email protected].
You may review comments and other related materials that pertain to
this information collection \1\ following the close of the 30-day
comment period for this notice by any of the following methods:
---------------------------------------------------------------------------
\1\ On May 6, 2019, the OCC published a 60-day notice for this
information collection, 84 FR 19825.
---------------------------------------------------------------------------
Viewing Comments Electronically: Go to www.reginfo.gov.
Click on the ``Information Collection Review'' tab. Underneath the
``Currently under Review'' section heading, from the drop-down menu
select ``Department of Treasury'' and then click ``submit.'' This
information collection can be located by searching by OMB control
number ``1557-0180'' or ``Minimum Security Devices and Procedures,
Reports of Suspicious Activities, and Bank Secrecy Act Compliance
Program.'' Upon finding the appropriate information collection, click
on the related ``ICR Reference Number.'' On the next screen, select
``View Supporting Statement and Other Documents'' and then click on the
link to any comment listed at the bottom of the screen.
For assistance in navigating www.reginfo.gov, please
contact the Regulatory Information Service Center at (202) 482-7340.
Viewing Comments Personally: You may personally inspect
comments at the OCC, 400 7th Street SW, Washington, DC. For security
reasons, the OCC requires that visitors make an appointment to inspect
comments. You may do so by calling (202) 649-6700 or, for persons who
are deaf or hearing impaired, TTY, (202) 649-5597. Upon arrival,
visitors will be required to present valid government-issued photo
identification and submit to security screening in order to inspect
comments.
FOR FURTHER INFORMATION CONTACT: Shaquita Merritt, OCC Clearance
Officer, Chief Counsel's Office, (202) 649-5490 or, for persons who are
deaf or hearing impaired, TTY, (202) 649-5597, Office of the
Comptroller of the Currency, Washington, DC 20219.
SUPPLEMENTARY INFORMATION: Under the PRA (44 U.S.C. 3501-3520), federal
agencies must obtain approval from the OMB for each collection of
information they conduct or sponsor. ``Collection of information'' is
defined in 44 U.S.C. 3502(3) and 5 CFR 1320.3(c) to include agency
requests or requirements that members of the public submit reports,
keep records, or provide information to a third party. The OCC asks
that OMB extend its approval of this collection.
Title: Minimum Security Devices and Procedures, Reports of
Suspicious Activities, and Bank Secrecy Act Compliance Program.
OMB Control No.: 1557-0180.
Form Numbers: 8010-1/8010-9.
Abstract:
Minimum Security Devices and Procedures
Under 12 CFR 21.2, 21.4, 168.2, and 168.4, national banks and
federal savings associations are required to designate a security
officer who must develop and administer a written security program. The
security officer shall report at least annually to the institution's
board of directors on the effectiveness of the security program. The
substance of the report shall be reflected in the board's minutes.
These requirements ensure that the security officer is responsible for
the security program and that institution management and the board of
directors are aware of the content and
[[Page 36659]]
effectiveness of the program. These requirements also ensure prudent
institution management safety and soundness.
Suspicious Activity Report (SAR)
In 1992, the Department of the Treasury was granted broad authority
to require suspicious transaction reporting under the Bank Secrecy Act
(BSA). See 31 U.S.C. 5318(g). The Financial Crimes Enforcement Network
(FinCEN), which has been delegated the authority to administer the BSA,
joined with the bank regulators in 1996 in requiring, on a consolidated
form (i.e., SAR), reports of suspicious transactions. See 31 CFR
1020.320(a) (formerly 31 CFR 103.18(a)). The filing of SARs is
necessary to prevent and detect crimes involving depository institution
funds, institution insiders, criminal transactions, and money
laundering. These requirements are necessary to ensure institution
safety and soundness.
Banks and savings associations are required to maintain a copy of
any SAR filed and the original or business record equivalent of any
supporting documentation for a period of five years. The documents are
necessary for criminal investigations and prosecutions.
FinCEN and the Federal financial institution supervisory agencies
\2\ adopted the SAR form to simplify the process through which
depository institutions inform their regulators and law enforcement
about suspected criminal activity. The SAR form was updated in 1998,
2000, 2003, 2006, 2011, 2012, 2015, and 2018.
---------------------------------------------------------------------------
\2\ The Federal financial institution supervisory agencies are
the Office of the Comptroller of the Currency (OCC), Board of
Governors of the Federal Reserve System (Board), Federal Deposit
Insurance Corporation (FDIC), and National Credit Union
Administration (NCUA). The Office of Thrift Supervision, which was
in existence at the time the SAR was adopted, was integrated into
the OCC in 2011.
---------------------------------------------------------------------------
Procedures for Monitoring Bank Secrecy Act Compliance
Under 12 CFR 21.21, national banks and savings associations are
required to develop and provide for the continued administration of a
program reasonably designed to assure and monitor their compliance with
the BSA and applicable Treasury regulations. The compliance program
must be in writing, approved by the board of directors, and reflected
in the minutes of the national bank or savings association. These
requirements are necessary to ensure institution compliance with the
BSA and applicable Treasury regulations.
Type of Review: Regular.
Affected Public: Business, for-profit institutions, and non-profit.
Estimated Number of Respondents: 1,233.
Estimated Total Annual Burden: 615,130 hours.
The OCC issued a notice for 60 days of comment regarding this
collection on May 6, 2019, 84 FR 19825. 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 shall have practical utility;
(b) The accuracy of the OCC'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: July 23, 2019.
Theodore J. Dowd,
Deputy Chief Counsel, Office of the Comptroller of the Currency.
[FR Doc. 2019-15959 Filed 7-26-19; 8:45 am]
BILLING CODE 4810-33-P
