AML Program Requirements for
Casinos (31 CFR 1021.210 and 31 CFR 1021.410(b)(10))
Extension without change of a currently approved collection
No
Regular
02/24/2021
Requested
Previously Approved
36 Months From Approved
02/28/2021
993
925
99,466
92,500
0
0
Section 352 of the USA PATRIOT Act
added subsection (h) to 31 U.S.C. 5318 of the BSA. Section 352
mandates that financial institutions establish AML programs in
order to guard against money laundering. Such AML programs must
include, at a minimum, the following: (a) the development of
internal policies, procedures, and controls, (b) the designation of
a compliance officer, (c) an ongoing employee training program, and
(d) an independent audit function to test programs. Pursuant to
section 352, FinCEN issued a regulation requiring casinos to
develop and implement written AML programs. Among other things, the
casino AML program regulations require that a casino must implement
procedures for obtaining and verifying customer identifying
information, detecting the occurrence of transactions that must be
reported as suspicious, and making and retaining specific records,
including a copy of its written AML program.
The estimated total annual
burden hours increased from 92,500 hours in 2017 to 99,466 hours in
2020. The estimated burden for casinos to implement and maintain an
AML compliance program remained at approximately 100 hours per
casino, with the addition of 5 minutes to store the written AML
program and 5 minutes to produce the written program upon request.
The increase in burden is due to a combination of the increase in
burden of 10 minutes per casino, and an increase in the number of
casinos from 925 in 2017 to 993 in 2020.
$0
No
No
No
No
No
No
No
FinCEN Resource Center 800
767-2825 frc@fincen.gov
No
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:
(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;
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.