[Federal Register: June 25, 2003 (Volume 68, Number 122)]
[Notices]
[Page 37896-37902]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr25jn03-108]
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DEPARTMENT OF THE TREASURY
Financial Crimes Enforcement Network; Proposed Collection;
Comment Request; Currency Transaction Report by Casinos--Nevada
AGENCY: Financial Crimes Enforcement Network (``FinCEN''), Treasury.
ACTION: Notice and request for comments.
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SUMMARY: As part of its continuing effort to reduce paperwork and
respondent burden, FinCEN invites comment on a proposed revision to the
Currency Transaction Report--Nevada (``CTRC-N'') and editorial changes
to the instructions. 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 25, 2003.
ADDRESSES: Written comments should be submitted to: Office of Chief
Counsel, Financial Crimes Enforcement Network, Department of the
Treasury, P.O. Box 39, Vienna, Virginia 22183, Attention: PRA
Comments--CTRC-N Form. Comments also may be submitted by electronic
mail to the following Internet address: regcomments@fincen.treas.gov,
again with a caption, in the body of the text, ``Attention: PRA
Comments--CTRC-N Form.''
Inspection of comments. Comments may be inspected, between 10 a.m.
and 4 p.m., in the FinCEN reading room in Washington, DC. Persons
wishing to inspect the comments submitted must request an appointment
by telephoning (202) 354-6400.
FOR FURTHER INFORMATION CONTACT: Daniel P. Haley, Regulatory Program
Compliance Specialist, Office of Regulatory Programs, FinCEN, at (202)
354-6400; and Judith R. Starr, Chief Counsel and Alma Angotti,
Enforcement Counsel, Office of Chief Counsel, FinCEN, at (703) 905-
3590.
SUPPLEMENTARY INFORMATION: Title: Currency Transaction Report by
Casinos--Nevada (CTRC-N).
OMB Number: 1506-0003.
Form Number: FinCEN Form 103-N (Formerly 8852).
Abstract: The statute generally referred to as the ``Bank Secrecy
Act,'' Titles I and II of Public Law 91-508, as amended, codified at 12
U.S.C. 1829b, 12 U.S.C. 1951-1959, and 31 U.S.C. 5311-5332, 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 counter-intelligence
activities; to protect against international terrorism, and to
implement counter-money laundering programs and compliance
procedures.\1\ Regulations implementing Title II of the Bank Secrecy
Act appear at 31 CFR part 103. The authority of the Secretary to
administer the Bank Secrecy Act has been delegated to the Director of
FinCEN.
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\1\ 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) Act of 2001 (the
``USA Patriot Act''), Pub. L. 107-56.
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Section 5313(a) authorizes the Secretary to issue regulations that
require a report when ``a domestic financial institution is involved in
a transaction for the payment, receipt, or transfer of United States
coins or currency (or other monetary instruments the Secretary of the
Treasury prescribes), in an amount, denomination, or amount and
denomination, or under circumstances the Secretary prescribes.
Regulations implementing section 5313(a) are found at 31 CFR 103.22. In
general, the regulations require the reporting of transactions in
currency in excess of $10,000 a day.
Pursuant to a cooperative agreement between Treasury and Nevada,
casinos in Nevada report currency transactions using the Currency
Transaction Report by Casinos--Nevada, FinCEN 103-N (Formerly Form
8852).
Action: This revision makes several editorial changes to the CTRC-
N. As part of an effort to standardize its forms, FinCEN is changing
the form number from Form 8852 to FinCEN Form 103-N. In addition, the
format of the country information in Part I items ``11'' and ``25,'' in
Part II item ``35,'' and Part III item ``45'' is changed to accept two-
digit country codes instead of a text country name, and information
about accessing state and country codes on FinCEN's website is added to
the instructions. The format for dates entered in Part I items ``8''
and ``26,'' Part II item ``33,'' and Part III items ``48'' and ``51''
is also changed to ease data entry on electronically prepared forms and
to conform to current form style. Finally, the Paperwork Reduction Act
notice has been moved to page four.
Type of Review: Regular with changes to a currently approved
information collection.
Affected public: Business or other for-profit and institutions.
Frequency: As required.
Estimated Burden: Reporting average of 19 minutes per response.\2\
Form recordkeeping average of 5 minutes per response, for a total of 24
minutes.
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\2\ This burden relates to the completion of the CTRC-N form
only. The recordkeeping burden of 31 CFR 103.22 is reflected in the
final rule requiring financial institutions to file currency
transaction reports of suspicious activity.
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Estimated number of respondents: 115.
Estimated Total Annual Responses: 136893.
Estimated Total Annual Burden Hours: 54,757.
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. Records required to be
retained under the Bank Secrecy Act must be retained for five years.
Request for Comments
Comments submitted in response to this notice will be summarized
and/or
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included in the request for OMB 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 17, 2003.
James F. Sloan,
Director, Financial Crimes Enforcement Network.
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[FR Doc. 03-16012 Filed 6-24-03; 8:45 am]
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