This information
collection constitutes a system of records which must either be
consolidated into the Bank Secrecy Act Reports File through a
revision or be submitted as a new system of records. We have
several concerns with the proposed Bank Secrecy Act Reports File.
We will supply you with a letter explaining those concerns. This
approval is conditioned on a submittal of information on how you
plan to clear this system of records that satisfactorily addresses
our concerns.
Inventory as of this Action
Requested
Previously Approved
12/31/1986
12/31/1986
12/31/1986
55,000
0
55,000
445,500
0
445,500
0
0
0
THE REPORTING REQUIREMENT IS INTENDED
TO DISCOURAGE THE USE OF FOREIGN FINANCIAL ACCOUNTS TO FACILITATE
ILLEGAL ACTIVITIES. THE REPORTS WILL BE USED TO DETECT PERSONS WHO
HAVE COMMITTED TAX FRAUD OR EVASION, AS WELL AS THOSE INVOLVED IN
SUBSTANTIAL INTERNATIONAL TRANSACTIONS RELATED TO DRUG TRAFFICKING
AND OTHER CRIMES.
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.