|Federal Information & News Dispatch, Inc.|
SUMMARY: In accordance with the Privacy Act of 1974, as amended, the
DATES: Comments must be received no later than
ADDRESSES: Written comments should be submitted to:
Inspection of comments: Comments are available on www.regulations.gov and are posted when received. Comments may be inspected at FinCEN
FOR FURTHER INFORMATION CONTACT:
SUPPLEMENTARY INFORMATION: FinCEN has conducted a review of its Privacy Act systems of records for compliance with the Privacy Act (5 U.S.C. 552a) and with Appendix 1 to OMB Circular A-130, "Federal Agency Responsibilities for Maintaining Records About Individuals," dated
The systems of records contain information collected under the statutory authority of the Bank Secrecy Act, Title I and II of Public Law 91-508, as amended, and codified at 12 U.S.C. 1829b, 12 U.S.C. 1951-1959, and 31 U.S.C. 5311-5314, 5316-5332, or any other authority exercised by FinCEN to compel the reporting of records, such as section 104(e) of the Comprehensive Iran Sanctions, Accountability, and Divestment Act of 2010, Public Law 111-195. These systems of records may also include information or records that contribute to effective law enforcement and regulation of financial institutions and non-financial trades or businesses, including, but not limited to, subject files on individuals, corporations, and other legal entities. The Bank Secrecy Act authorizes the Secretary of the Treasury, inter alia, to require financial institutions and individuals to keep records and file reports that are determined to have a high degree of usefulness in criminal, tax, and regulatory matters, or in the conduct of intelligence or counter-intelligence activities to protect against international terrorism, and to implement counter-money laundering programs and compliance procedures. The regulations implementing Title II of the Bank Secrecy Act appear at 31 CFR chapter X. The Secretary has delegated his authority to administer the Bank Secrecy Act to the Director of FinCEN.
Suspicious transaction reporting is required by regulations issued by FinCEN and the supervisory agencies that examine and regulate the safety and soundness of financial institutions, namely the
In the course of its review, FinCEN identified a potential use of Privacy Act records that may not be clear under the Privacy Act or the published routine uses. The Privacy Act permits disclosure "to those officers and employees of the agency which maintains the record who have a need for the record in the performance of their duties." 5 U.S.C. 552a(b)(1). At FinCEN, student volunteers work on projects relating to official programs and operations. This sharing is both appropriate and necessary for the efficient conduct of government. It is also in the best interest of both the individual and the public because it enables FinCEN to better administer the information it maintains and facilitates use of information in accordance with applicable laws and regulations to further FinCEN's mission. For example, under 5 U.S.C. 3111, agencies may receive unpaid services from students; such students are not, however, considered "employees of the agency" for many purposes. Consequently, FinCEN is proposing to add the following new routine use to each of its system notices:
FOOTNOTE 1 For purposes of this notice, the term "Financial Supervisory Agencies" also includes the now defunct
Provide records to student volunteers and other individuals not having the status of agency employees, if they need access to the records to perform services as authorized under law relating to the official programs and operations of FinCEN. Individuals provided records under this routine use are subject to the same requirements and limitations on disclosure as are applicable to FinCEN officers and employees.
This routine use is compatible with the purpose for which the records are collected because providing the records to student volunteers and other individuals when performing services as authorized by law in furtherance of FinCEN's mission is a corollary purpose that is compatible with the purpose for which the records were originally collected. Moreover, disclosures under this routine use will enable FinCEN to better administer the records it maintains and will facilitate the use of records in accordance with applicable laws and regulations. The individuals covered by this routine use would be required to meet the same requirements as FinCEN employees relating to the protection of Privacy Act records, such as completing privacy and security training which FinCEN employees currently are required to complete annually.
Information in the systems of records may be retrieved by personal identifier. The Privacy Act requires the Treasury to give general notice, and opportunity to comment, to the public when making substantive changes to these Systems. Because FinCEN proposes to add a new routine use to each of its systems notices, FinCEN is providing notice and public comment opportunity. The notices were last published in their entirety on
In accordance with 5 U.S.C. 552a(r), Treasury has provided a report of this system of records alterations to OMB and to
For the reasons set forth above, FinCEN proposes to alter the FinCEN Investigations and Examinations System, the SAR System, and the BSA System, as follows:
FinCEN Investigations and Examinations System--Treasury/FinCEN.
The Internal Revenue Service Enterprise Computing Center Detroit (ECCD),
Categories of individuals covered by the system:
(1) Individuals who relate in any manner to official FinCEN efforts in support of the enforcement of the Bank Secrecy Act and money-laundering and other financial crimes. Such individuals may include, but are not limited to, subjects of investigations and prosecutions; suspects in investigations; victims of such crimes; witnesses in such investigations and prosecutions; and close relatives and associates of any of these individuals who may be relevant to an investigation; (2) current and former FinCEN personnel whom FinCEN considers relevant to an investigation or inquiry; and (3) individuals who are the subject of unsolicited information possibly relevant to violations of law or regulations, who offer unsolicited information relating to such violations, who request assistance from FinCEN, and who make inquiries of FinCEN.
Categories of records in the system:
--This is a summary of a
Notice of alterations of three Privacy Act systems of records.
Citation: "79 FR 20969"
Federal Register Page Number: "20969"
|Copyright:||(c) 2014 Federal Information & News Dispatch, Inc.|