Notice2024-28099
Agency Information Collection Activities; Submission for OMB Review; Comment Request; Purchases of Bank Checks and Drafts, Cashier's Checks, Money Orders, and Traveler's Checks
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
December 2, 2024
Issuing agencies
Treasury Department
Abstract
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.
Full Text
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<title>Federal Register, Volume 89 Issue 231 (Monday, December 2, 2024)</title>
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[Federal Register Volume 89, Number 231 (Monday, December 2, 2024)]
[Notices]
[Page 95357]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2024-28099]
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DEPARTMENT OF THE TREASURY
Agency Information Collection Activities; Submission for OMB
Review; Comment Request; Purchases of Bank Checks and Drafts, Cashier's
Checks, Money Orders, and Traveler's Checks
AGENCY: Departmental Offices, U.S. Department of the Treasury.
ACTION: Notice of information collection; request for comment.
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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 January 2, 2025 to be
assured of consideration.
ADDRESSES: Written comments and recommendations for the proposed
information collection should be sent within 30 days of publication of
this notice to <a href="http://www.reginfo.gov/public/do/PRAMain">www.reginfo.gov/public/do/PRAMain</a>. Find this particular
information collection by selecting ``Currently under 30-day Review--
Open for Public Comments'' or by using the search function.
FOR FURTHER INFORMATION CONTACT: Copies of the submissions may be
obtained from Spencer W. Clark by emailing <a href="/cdn-cgi/l/email-protection#bceceefdfcc8ced9ddcfc9cec592dbd3ca"><span class="__cf_email__" data-cfemail="eabab8abaa9e988f8b999f9893c48d859c">[email protected]</span></a>, calling
(202) 927-5331, or viewing the entire information collection request at
<a href="http://www.reginfo.gov">www.reginfo.gov</a>.
SUPPLEMENTARY INFORMATION:
Financial Crimes Enforcement Network (FinCEN)
Title: Purchases of Bank Checks and Drafts, Cashier's Checks, Money
Orders, and Traveler's Checks.
OMB Control Number: 1506-0057.
Type of Review: Extension without change of a currently approved
collection.
Description: The Bank Secrecy Act (BSA) prohibits financial
institutions from issuing any ``bank check, cashier's check, traveler's
check, or money order to any individual in connection with a
transaction or group of such contemporaneous transactions which
involves United States coins or currency (or such other monetary
instruments as the Secretary may prescribe) in amounts or denominations
of $3,000 or more'' unless (1) the financial institution verifies,
through a signature card or other account documentation or information,
that the individual has a transaction account with the financial
institution, and records the method of verification in accordance with
regulations issued by the Secretary; or (2) the individual furnishes
the financial institution with such forms of identification as the
Secretary may require by regulation, and the financial institution
verifies and records such information in accordance with regulations
issued by the Secretary. To implement these requirements, FinCEN issued
a regulation requiring financial institutions to maintain records
related to the issuance or sale of bank checks and drafts, cashier's
checks, money orders, and traveler's checks. The regulation applies to
all financial institutions as defined in 31 CFR 1010.100(t). However,
it is FinCEN's experience that banks and money services businesses
(MSBs) are more likely than other categories of financial institution
to issue or sell bank checks and drafts, cashier's checks, money
orders, and traveler's checks.
Under 31 CFR 1010.415, financial institutions are required to
maintain records of certain information related to the issuance or sale
of bank checks and drafts, cashier's checks, money orders, and
traveler's checks when the issuance or sale involves currency between
$3,000 and $10,000, inclusive, to any individual purchaser of one or
more of these instruments.
Form: None.
Affected Public: Businesses or other for-profits.
Estimated Number of Respondents: 23,207.
Frequency of Response: On occasion.
Estimated Total Number of Annual Responses: 23,207.
Estimated Time per Response: 7.5 hours.
Estimated Total Annual Burden Hours: 174,053.
Authority: 44 U.S.C. 3501 et seq.
Spencer W. Clark,
Treasury PRA Clearance Officer.
[FR Doc. 2024-28099 Filed 11-29-24; 8:45 am]
BILLING CODE 4810-02-P
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