Anti-Money Laundering programs for money services business, mutual funds, and operators of credit card systems

Forms and Documents

Document Name	Status
AML0020-86iSupplemental adding prepaid .doc Supporting Statement A	2012-01-31

IC Document Collections

IC ID	Document Title	Status
200947	Anti-Money Laundering (AML) Program for Providers of Prepaid Access	New
15322	Anti-Money Laundering programs for money services business, mutual funds, and operators of credit card systems	Modified

ICR Details

OMB Control No: 1506-0020	ICR Reference No: 201201-1506-004
Status: Historical Active	Previous ICR Reference No: 200905-1506-001
Agency/Subagency: TREAS/FINCEN	Agency Tracking No:
Title: Anti-Money Laundering programs for money services business, mutual funds, and operators of credit card systems
Type of Information Collection: Reinstatement with change of a previously approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 05/08/2012
	Date Received in OIRA: 02/03/2012
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	05/31/2015	06/30/2012	06/30/2012
Responses	2,838,406	0	203,006
Time Burden (Hours)	341,216	0	203,006
Cost Burden (Dollars)	0	0	0

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Abstract: Money services businesses, mutual funds, and operators of credit card systems are required to develop and implement written anti-money laundering program. A copy of the program must be maintained for five years. See 31 CFR 103.125, 103.130, and 103.135.

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Authorizing Statute(s): US Code: 31 USC 5311-5332 Name of Law: Money and Finance
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
1506-AB07	Final or interim final rulemaking	76 FR 45403	07/29/2011

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Federal Register Notices & Comments

Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 2

IC Title	Form No.	Form Name
Anti-Money Laundering programs for money services business, mutual funds, and operators of credit card systems
Anti-Money Laundering (AML) Program for Providers of Prepaid Access

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ICR Summary of Burden

	Total Approved	Previously Approved	Change Due to New Statute	Change Due to Agency Discretion	Change Due to Adjustment in Estimate	Change Due to Potential Violation of the PRA
Annual Number of Responses	2,838,406	203,006	0	2,635,400	0	0
Annual Time Burden (Hours)	341,216	203,006	0	138,210	0	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: Yes

Burden Increase Due to: Changing Regulations

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: This change add providers of prepaid access to this IRC. See ref. 201006-1506-002

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Annual Cost to Federal Government: $0

Does this IC contain surveys, censuses, or employ statistical methods? No

Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002? No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? No

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? Uncollected

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Common Form ICR:  No

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On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).

The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:

(a) It is necessary for the proper performance of agency functions;

(b) It avoids unnecessary duplication;

(c) It reduces burden on small entities;

(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;

(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;

(f) It indicates the retention periods for recordkeeping requirements;

(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:

(i) Why the information is being collected;

(ii) Use of information;

(iii) Burden estimate;

(iv) Nature of response (voluntary, required for a benefit, or mandatory);

(v) Nature and extent of confidentiality; and

(vi) Need to display currently valid OMB control number;

(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.

(i) It uses effective and efficient statistical survey methodology (if applicable); and

(j) It makes appropriate use of information technology.

If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.

Certification Date: 02/03/2012

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