Notice2023-06386
Agency Information Collection Activities: Renewal of Agency Information Collection of a Previously Approved Collection; Request for Comments
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
March 28, 2023
Issuing agencies
National Credit Union Administration
Abstract
The National Credit Union Administration (NCUA) is seeking comments on renewal of Office of Management and Budget (OMB) approval, pursuant to the Paperwork Reduction Act, for the collection of information for Suspicious Activity Reports by Depository Institutions pursuant to the Security Program, Report of Suspected Crimes, Suspicious Transactions, Catastrophic Acts and Bank Secrecy Act Compliance. The information collection is currently authorized by OMB Control Number 3133-0094, which expires on May 31, 2023. This information collection allows NCUA to ensure compliance with regulatory and statutory requirements for adopting and requiring reports of suspicious transactions on a consolidated suspicious activity report (SARs) form.
Full Text
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<title>Federal Register, Volume 88 Issue 59 (Tuesday, March 28, 2023)</title>
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[Federal Register Volume 88, Number 59 (Tuesday, March 28, 2023)]
[Notices]
[Pages 18351-18352]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2023-06386]
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NATIONAL CREDIT UNION ADMINISTRATION
Agency Information Collection Activities: Renewal of Agency
Information Collection of a Previously Approved Collection; Request for
Comments
AGENCY: National Credit Union Administration (NCUA).
ACTION: Notice and request for comments.
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SUMMARY: The National Credit Union Administration (NCUA) is seeking
comments on renewal of Office of Management and Budget (OMB) approval,
pursuant to the Paperwork Reduction Act, for the collection of
information for Suspicious Activity Reports by Depository Institutions
pursuant to the Security Program, Report of Suspected Crimes,
Suspicious Transactions, Catastrophic Acts and Bank Secrecy Act
Compliance. The information collection is currently authorized by OMB
Control Number 3133-0094, which expires on May 31, 2023. This
information collection allows NCUA to ensure compliance with regulatory
and statutory requirements for adopting and requiring reports of
suspicious transactions on a consolidated suspicious activity report
(SARs) form.
DATES: Written comments should be received on or before May 30, 2023 to
be assured consideration.
ADDRESSES: Interested persons are invited to submit written comments on
the information collection to Mahala Vixamar, National Credit Union
Administration, 1775 Duke Street, Suite 6038, Alexandria, Virginia
22314; email at <a href="/cdn-cgi/l/email-protection#ffafadbebc9092929a918b8cbfb1bcaabed1989089"><span class="__cf_email__" data-cfemail="d787859694b8babab2b9a3a49799948296f9b0b8a1">[email protected]</span></a>.
FOR FURTHER INFORMATION CONTACT: Address requests for additional
information to Mahala Vixamar at the address above or telephone (703)
718-1155.
SUPPLEMENTARY INFORMATION:
OMB Number: 3133-0094.
Title: Suspicious Activity Report (SAR) by Depository Institutions.
Type of Review: Extension of a currently approved collection.
Abstract: The Financial Crimes Enforcement Network (FinCEN),
Department of the Treasury, was granted broad authority to require
suspicious transaction reporting under the Bank Secrecy Act (BSA) (31
U.S.C. 5318(g)). FinCEN joined with the bank regulators in adopting and
requiring reports of suspicious transactions on a consolidated
suspicious activity report (SARs) form. This simplified the process
through which banks inform their regulators and law enforcement about
suspected criminal activity. In 2011, FinCEN transitioned from industry
specific paper forms to one electronically filed dynamic and
interactive BSA-SAR for use by all filing institutions. Information
about suspicious transactions conducted or attempted by, at, through,
or otherwise involving credit unions are collected through FinCEN's BSA
E-filing system by credit unions. A SAR is to be filed no later than 30
calendar days from the date of the initial detection of facts that may
constitute a basis for filing a SAR. If no suspect can be identified,
the period for filing a SAR is extended to 60 days. FinCEN and law
enforcement agencies use the information on BSA- SARs and the
supporting documentation retained by the banks for criminal
investigation and prosecution purposes.
Affected Public: Federally Insured Credit Unions.
Respondents: Any NCUA-supervised institution wishing to obtain an
exemption from the Suspicious Activity Report requirements.
Estimated No. of Respondents: 4,760.
Estimated No. of Responses per Respondent: 36.64.
Estimated Total Annual Responses: 174,406.
Estimated Burden Hours per Response: 1.
Estimated Total Annual Burden Hours: 174,406.
Reason for Change: The burden went down because the number of
respondents decreased.
Request for Comments: Comments submitted in response to this notice
will
[[Page 18352]]
be summarized and included in the request for Office of Management and
Budget's (OMB) approval. All comments will become a matter of public
record. The public is invited to submit comments concerning: (a)
whether the collection of information is necessary for the proper
execution of the function of the agency, including whether the
information will have practical utility; (b) the accuracy of the
agency's estimate of the burden of the collection of information,
including the validity of the methodology and assumptions used; (c)
ways to enhance the quality, utility, and clarity of the information to
be collected; and (d) ways to minimize the burden of the collection of
the information on the respondents, including the use of automated
collection techniques or other forms of information technology.
By the National Credit Union Administration Board.
Melane Conyers-Ausbrooks,
Secretary of the Board.
[FR Doc. 2023-06386 Filed 3-27-23; 8:45 am]
BILLING CODE 7535-01-P
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