[Federal Register Volume 75, Number 115 (Wednesday, June 16, 2010)]
[Notices]
[Page 34215]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2010-14433]
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DEPARTMENT OF THE TREASURY
Financial Crimes Enforcement Network
Proposed Renewal Without Change; Comment Request; Imposition of
Special Measure Against Commercial Bank of Syria, Including Its
Subsidiary Syrian Lebanese Commercial Bank, as a Financial Institution
of Primary Money Laundering Concern
AGENCY: Financial Crimes Enforcement Network, Treasury.
ACTION: Notice and request for comments.
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SUMMARY: As part of our continuing effort to reduce paperwork and
respondent burden, we invite comment on a proposed renewal, without
change, to information collection requirements found in existing
regulations imposing the imposition of a special measure against the
Commercial Bank of Syria, including its subsidiary Syrian Lebanese
Commercial Bank, as a financial institution of primary money laundering
concern. This request for comments is being made pursuant to the
Paperwork Reduction Act of 1995, Public Law 104-13, 44 U.S.C.
3506(c)(2)(A).
DATES: Written comments are welcome and must be received on or before
August 16, 2010.
ADDRESSES: Written comments should be submitted to: Financial Crimes
Enforcement Network, P.O. Box 39, Vienna, VA 22183, Attention: Comment
Request; Imposition of Special Measure against Commercial Bank of
Syria. Comments also may be submitted by electronic mail to the
following Internet address: [email protected], again with a
caption, in the body of the text, ``Attention: Comment Request;
Imposition of Special Measure against Commercial Bank of Syria.''
Inspection of comments: Comments may be inspected, between 10 a.m.
and 4 p.m., in the FinCEN reading room in Vienna, VA. Persons wishing
to inspect the comments submitted must request an appointment with the
Disclosure Officer by telephoning (703) 905-5034 (not a toll free
call).
FOR FURTHER INFORMATION CONTACT: Financial Crimes Enforcement Network,
Regulatory Policy and Programs Division at (800) 949-2732. Select
option 6.
SUPPLEMENTARY INFORMATION:
Abstract: The Director of the Financial Crimes Enforcement Network
is the delegated administrator of the Bank Secrecy Act. The Act
authorizes the Director to issue regulations to require all financial
institutions defined as such pursuant to the Act to maintain or file
certain reports or records that have been determined to have a high
degree of usefulness in criminal, tax, or regulatory investigations or
proceedings, or in the conduct of intelligence or counter-intelligence
activities, including analysis, to protect against international
terrorism.\1\
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\1\ Public Law 91-508, as amended and codified at 12 U.S.C.
1829b, 12 U.S.C. 1951-1959 and 31 U.S.C. 5311-5332. Language
expanding the scope of the Bank Secrecy Act to intelligence or
counter-intelligence activities to protect against international
terrorism was added by section 358 of the Uniting and Strengthening
America by Providing Appropriate Tools Required to Intercept and
Obstruct Terrorism (USA PATRIOT) Act of 2001, Public Law 107-56.
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Regulations implementing section 5318A of title 31, United States
Code can be found in part at 31 CFR 103.188. In general, the
regulations require covered financial institutions to establish,
document, and maintain programs as an aid in protecting and securing
the U.S. financial system.
Title: Imposition of Special Measure against Commercial Bank of
Syria, Including its Subsidiary Syrian Lebanese Commercial Bank, as a
Financial Institution of Primary Money Laundering Concern.
Office of Management and Budget Control Number: 1506-0036.
Abstract: The Financial Crimes Enforcement Network is issuing this
notice to renew the imposition of a special measure against the
Commercial Bank of Syria, including its subsidiary Syrian Lebanese
Commercial Bank, as a financial institution of primary money laundering
concern, pursuant to the authority contained in 31 U.S.C. 5318A.
Current Action: Renewal without change to existing regulations.
Type of Review: Extension of a currently approved information
collection.
Affected Public: Business and certain not-for-profit institutions.
Burden:
Estimated Number of Respondents: 5000.
Estimated Number of Responses: 5000.
Estimated Number of Hours: 5000. (Estimated at one hour per
respondent).
An agency may not conduct or sponsor, and a person is not required
to respond to, a collection of information unless it displays a valid
control number assigned by the Office of Management and Budget. Records
required to be retained under the Bank Secrecy Act must be retained for
five years. Generally, information collected pursuant to the Bank
Secrecy Act is confidential but may be shared as provided by law with
regulatory and law enforcement authorities.
Request for Comments: Comments submitted in response to this notice
will be summarized and/or included in the request for Office of
Management and Budget approval. All comments will become a matter of
public record. Comments are invited on: (a) 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; (b) the accuracy of the agency'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: June 8, 2010.
James H. Freis, Jr.,
Director, Financial Crimes Enforcement Network.
[FR Doc. 2010-14433 Filed 6-15-10; 8:45 am]
BILLING CODE 4810-02-P