2019-16247. Agency Information Collection Activities; Submission for OMB Review; Comment Request; Expansion of Special Information Sharing Procedures To Deter Money Laundering and Terrorist Activity

AGENCY:

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

ACTION:

Notice.

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 August 30, 2019 to be assured of consideration.

ADDRESSES:

Send comments regarding the burden estimate, or any other aspect of the information collection, including suggestions for reducing the burden, to (1) Office of Information and Regulatory Affairs, Office of Management and Budget, Attention: Desk Officer for Treasury, New Executive Office Building, Room 10235, Washington, DC 20503, or email at [e-mail] and (2) Treasury PRA Clearance Officer, 1750 Pennsylvania Ave. NW, Suite 8142, Washington, DC 20220, or email at [e-mail].

FOR FURTHER INFORMATION CONTACT:

Copies of the submissions may be obtained from Jennifer Quintana by emailing [e-mail], calling [phone], or viewing the entire information collection request at www.reginfo.gov.

SUPPLEMENTARY INFORMATION:

Financial Crimes Enforcement Network (FinCen)

Title: Expansion of Special Information Sharing Procedures to Deter Money Laundering and Terrorist Activity.

OMB Control Number: 1506.0049.

Type of Review: Extension without change of a currently approved collection.

Description: The relevant Bank Secrecy Act (“BSA”) information sharing rules that allow certain foreign law enforcement agencies, and State and local law enforcement agencies, to submit requests for information to financial institutions. The rule also clarifies that FinCEN itself, on its own behalf and on behalf of other appropriate components of the Department of the Treasury, may submit such requests. Modification of the information sharing rules is a part of the Department of the Treasury's continuing effort to increase the efficiency and effectiveness of its anti-money laundering and counter-terrorist financing policies.

Form: None.

Affected Public: Businesses or other for profits.

Estimated Number of Respondents: 14,643.

Frequency of Response: Annually.

Estimated Total Number of Annual Responses: 14,643.

Estimated Time per Response: 42 hours per response.

Estimated Total Annual Burden Hours: 615,006.

Authority: 44 U.S.C. 3501 et seq.

Dated: July 26, 2019.

Jennifer P. Quintana,

Treasury PRA Clearance Officer.