Notice2025-07341
Agency Information Collection Activities: Information Collection Renewal; Submission for OMB Review; Minimum Security Devices and Procedures, Reports of Suspicious Activities, and Bank Secrecy Act Compliance Program
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
April 29, 2025
Issuing agencies
Treasury DepartmentComptroller of the Currency
Abstract
The OCC, as part of its continuing effort to reduce paperwork and respondent burden, invites comment on a continuing information collection, as required by the Paperwork Reduction Act of 1995 (PRA). In accordance with the requirements of the PRA, the OCC may not conduct or sponsor, and the respondent is not required to respond to, an information collection unless it displays a currently valid Office of Management and Budget (OMB) control number. The OCC is soliciting comment concerning the renewal of its information collection titled, "Minimum Security Devices and Procedures, Reports of Suspicious Activities, and Bank Secrecy Act Compliance Program." The OCC also is giving notice that it has sent the collection to OMB for review.
Full Text
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<title>Federal Register, Volume 90 Issue 81 (Tuesday, April 29, 2025)</title>
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[Federal Register Volume 90, Number 81 (Tuesday, April 29, 2025)]
[Notices]
[Pages 17881-17882]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2025-07341]
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DEPARTMENT OF THE TREASURY
Office of the Comptroller of the Currency
Agency Information Collection Activities: Information Collection
Renewal; Submission for OMB Review; Minimum Security Devices and
Procedures, Reports of Suspicious Activities, and Bank Secrecy Act
Compliance Program
AGENCY: Office of the Comptroller of the Currency (OCC), Treasury.
ACTION: Notice and request for comment.
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SUMMARY: The OCC, as part of its continuing effort to reduce paperwork
and respondent burden, invites comment on a continuing information
collection, as required by the Paperwork Reduction Act of 1995 (PRA).
In accordance with the requirements of the PRA, the OCC may not conduct
or sponsor, and the respondent is not required to respond to, an
information collection unless it displays a currently valid Office of
Management and Budget (OMB) control number. The OCC is soliciting
comment concerning the renewal of its information collection titled,
``Minimum Security Devices and Procedures, Reports of Suspicious
Activities, and Bank Secrecy Act Compliance Program.'' The OCC also is
giving notice that it has sent the collection to OMB for review.
DATES: Comments must be received by May 29, 2025.
ADDRESSES: Commenters are encouraged to submit comments by email, if
possible. You may submit comments by any of the following methods:
<bullet> Email: <a href="/cdn-cgi/l/email-protection#e29290838b8c848da28d8181cc9690878391cc858d94"><span class="__cf_email__" data-cfemail="7f0f0d1e161119103f101c1c510b0d1a1e0c51181009">[email protected]</span></a>.
<bullet> Mail: Chief Counsel's Office, Attention: Comment
Processing, Office of the Comptroller of the Currency, Attention: 1557-
0180, 400 7th Street SW, Suite 3E-218, Washington, DC 20219.
<bullet> Hand Delivery/Courier: 400 7th Street SW, Suite 3E-218,
Washington, DC 20219.
<bullet> Fax: (571) 293-4835.
Instructions: You must include ``OCC'' as the agency name and
``1557-0180'' in your comment. In general, the OCC will publish
comments on <a href="http://www.reginfo.gov">www.reginfo.gov</a> without change, including any business or
personal information provided, such as name and address information,
email addresses, or phone numbers. Comments received, including
attachments and other supporting materials, are part of the public
record and subject to public disclosure. Do not include any information
in your comment or supporting materials that you consider confidential
or inappropriate for public disclosure.
Written comments and recommendations for the proposed information
collection should also 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>. You can find this
information collection by selecting ``Currently under 30-day Review--
Open for Public Comments'' or by using the search function.
You may review comments and other related materials that pertain to
this information collection following the close of the 30-day comment
period for this notice by the method set forth in the next bullet.
<bullet> Viewing Comments Electronically: Go to <a href="http://www.reginfo.gov">www.reginfo.gov</a>.
Hover over the ``Information Collection Review'' tab and click on
``Information Collection Review'' from the drop-down menu. From the
``Currently under Review'' drop-down menu, select ``Department of
Treasury'' and then click ``submit.'' This information collection can
be located by searching OMB control number ``1557-0180'' or ``Minimum
Security Devices and Procedures, Reports of Suspicious Activities, and
Bank Secrecy Act Compliance Program.'' Upon finding the appropriate
information collection, click on the related ``ICR Reference Number.''
On the next screen, select ``View Supporting Statement and Other
Documents'' and then click on the link to any comment listed at the
bottom of the screen.
<bullet> For assistance in navigating <a href="http://www.reginfo.gov">www.reginfo.gov</a>, please
contact the Regulatory Information Service Center at (202) 482-7340.
FOR FURTHER INFORMATION CONTACT: Shaquita Merritt, Clearance Officer,
(202) 649-5490, Chief Counsel's Office, Office of the Comptroller of
the Currency, 400 7th Street SW, Washington, DC 20219. If you are deaf,
hard of hearing, or have a speech disability, please dial 7-1-1 to
access telecommunications relay services.
SUPPLEMENTARY INFORMATION: Under the PRA (44 U.S.C. 3501 et seq.),
Federal agencies must obtain approval from the OMB for each collection
of information that they conduct or sponsor. ``Collection of
information'' is defined in 44 U.S.C. 3502(3) and 5 CFR 1320.3(c) to
include agency requests or requirements that members of the public
submit reports, keep records, or provide information to a third party.
The OCC asks the OMB to extend its approval of the collection in this
notice.
Title: Minimum Security Devices and Procedures, Reports of
Suspicious Activities, and Bank Secrecy Act Compliance Program.
OMB Control No.: 1557-0180.
Type of Review: Regular.
Affected Public: Businesses or other for-profit.
Description: Minimum Security Devices and Procedures: Under 12 CFR
21.2, 21.4, 168.2, and 168.4, national banks and Federal savings
associations are required to designate a security officer who must
develop and administer a written security program. The security officer
shall report at least annually to the institution's board of directors
on the effectiveness of the security program. The substance of the
report shall be reflected in the board's minutes. These requirements
ensure that the security officer is responsible for the security
program and that the institution's management and the board of
directors are aware of the content and effectiveness of the program.
These requirements also ensure prudent institution management and
institution safety and soundness.
Suspicious Activity Report (SAR): In 1992, the Department of the
Treasury was granted broad authority to require suspicious transaction
reporting under the Bank Secrecy Act (BSA). See, 31 U.S.C. 5318(g). The
Financial Crimes
[[Page 17882]]
Enforcement Network (FinCEN), which has been delegated the authority to
administer the BSA, joined with the bank regulators in 1996 in
requiring, on a consolidated form (i.e., SAR), reports of suspicious
transactions. See, 31 CFR 1020.320(a) (formerly 31 CFR 103.18(a)). The
filing of SARs is necessary to prevent and detect crimes involving
depository institution funds, institution insiders, criminal
transactions, and money laundering. These requirements are necessary to
ensure institution safety and soundness. National banks and Federal
savings associations are required to maintain a copy of any SAR filed
and the original or business record equivalent of any supporting
documentation for a period of five years. The documents are necessary
for criminal investigations and prosecutions. FinCEN and the Federal
financial institution supervisory agencies \1\ adopted the SAR form to
simplify the process through which depository institutions inform their
regulators and law enforcement about suspected criminal activity.\2\
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\1\ The Federal financial institution supervisory agencies are
the OCC, Board of Governors of the Federal Reserve System (Board),
Federal Deposit Insurance Corporation (FDIC), and National Credit
Union Administration (NCUA). The Office of Thrift Supervision, which
was in existence at the time the SAR was adopted, was merged into
the OCC in 2011.
\2\ The OCC estimates one hour of burden per SAR filed in
recognition of the fact that most SARs are also required by FinCEN's
SAR regulations and are accordingly already covered under the burden
estimates for those regulations. The OCC's estimates are based on
the number of SARs filed by OCC-regulated depository institutions in
the most recent 12-month period, as reported in FinCEN's published
SAR statistics, available at <a href="https://www.fincen.gov/reports/sar-stats">https://www.fincen.gov/reports/sar-stats</a>.
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Procedures for Monitoring Bank Secrecy Act Compliance: Under 12 CFR
21.21, national banks and Federal savings associations are required to
develop and provide for the continued administration of a program
reasonably designed to assure and monitor their compliance with the BSA
and applicable Treasury regulations. The compliance program must be in
writing, approved by the board of directors, and reflected in the
minutes of the national bank or Federal savings association. These
requirements are necessary to ensure institution compliance with the
BSA and applicable Treasury regulations.
Estimated Burden:
Estimated Frequency of Response: On occasion.
Estimated Number of Respondents: 1,036.
Estimated Total Annual Burden: 1,266,791 hours.
Comments: On February 20, 2025, the OCC published a 60-day notice
for this information collection, (90 FR 10036). The OCC received one
comment, which recommended broader reforms to increase the
effectiveness of compliance efforts but did not specifically object to
the estimates in or justification for this information collection.
Comments continue to be invited on:
(a) Whether the collection of information is necessary for the
proper performance of the functions of the OCC, including whether the
information has practical utility;
(b) The accuracy of the OCC'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 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.
Patrick T. Tierney,
Assistant Director, Office of the Comptroller of the Currency.
[FR Doc. 2025-07341 Filed 4-28-25; 8:45 am]
BILLING CODE 4810-33-P
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