Bank Secrecy Act/Anti-Money Laundering Risk Assessment

Forms and Documents

Document	Type	Status	Availability
Community Bank Population - Risk Assessment Form	Form and Instruction	Modified	Available
1557-0231 (Supporting Statement 2013) 9 4 13.doc	Supporting Statement A	Uploaded 2013-09-05	Available

IC Document Collections

IC ID	Collection	Type	Status	Form
20141	Community Bank Population - Risk Assessment Form	Form and Instruction	Modified

ICR Details

OMB Control No: 1557-0231	ICR Reference No: 201302-1557-009
Status: Historical Active	Previous ICR Reference No: 201108-1557-014
Agency/Subagency: TREAS/OCC	Agency Tracking No:
Title: Bank Secrecy Act/Anti-Money Laundering Risk Assessment
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved with change	Conclusion Date: 09/10/2013
	Date Received in OIRA: 03/08/2013
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	09/30/2016	36 Months From Approved	09/30/2013
Responses	1,792	0	1,972
Time Burden (Hours)	10,752	0	11,832
Cost Burden (Dollars)	0	0	0

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Abstract: The OCC conducts an annual data collection, known as the Money Laundering Risk (MLR) System, from community banks (national banks and federal savings associations), to assist OCC examiners in supervising Bank Secrecy Act (BSA) and sanctions compliance. The MLR system enhances the ability of examiners and bank management to identify and evaluate BSA/money laundering and Office of Foreign Asset Control (OFAC) sanctions risks associated with banks' products, services, customers, and locations. The MLR is an important tool for the OCC's BSA/Anti-Money Laundering/OFAC supervision activities because it allows the agency to better identify those institutions, and areas within institutions, that pose heightened risk. This information assists us in allocating examination resources, improves examination scopes, and augments transaction testing capabilities. The MLR is critical in protecting financial institutions from potential abuse from money laundering or terrorist financing.

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Authorizing Statute(s): US Code: 12 USC 93a Name of Law: National Bank Act
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	77 FR 70544	11/26/2012
30-day Notice:	Federal Register Citation:	Citation Date:
	78 FR 15121	03/08/2013
Did the Agency receive public comments on this ICR? Yes

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Number of Information Collection (IC) in this ICR: 1

IC Title	Form No.	Form Name
Community Bank Population - Risk Assessment Form	N/A	BSA/AML Quantity of Risk Summary Form

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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	1,792	1,972	0	0	-180	0
Annual Time Burden (Hours)	10,752	11,832	0	0	-1,080	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

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

Burden Increase Due to:

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

Burden Reduction Due to:

Short Statement: The change in burden was due to a combination of changes to the form and a reduction in the number of respondents. Changes to the Form The OCC updated the annual Risk Summary Form in 2012. The changes enhance the assessment process by requiring the reporting of products, services, and customers (PSCs) related to prepaid access or prepaid cards, a growth industry that is receiving increased attention from regulators, law enforcement, and Congress. In addition, the Money Services Business (MSB) section of the form was modified to reflect changes in regulatory definitions. The form now includes MSB customers that are Providers of Prepaid Access and Sellers of Prepaid Access. All of these changes were made within the existing subject headers. Change in Number of Respondents The number of respondents decreased due to a nonmaterial change in 2011, which was overstated. The change added the thrift population transferred to the OCC via Dodd-Frank.

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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: 03/08/2013

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