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Submission for OMB Review; Comment Request

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Information about this document as published in the Federal Register.

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Office of the Comptroller of the Currency (OCC), Treasury.


Notice and request for comments.


The OCC, as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to take this opportunity to comment on a proposed information collection, as required by the Paperwork Reduction Act of 1995. Currently, the OCC is soliciting comments concerning an information collection titled “Bank Secrecy Act/Money Laundering Risk Assessment.”


Written comments should be submitted by August 24, 2005.


Direct all written comments to the Communications Division, Office of the Comptroller of the Currency, Public Information Room, Mailstop 1-5, 250 E Street, SW., Washington, DC 20219. In addition, comments may be sent by facsimile transmission to (202) 874-5274, or by electronic mail to REGS.COMMENTS@OCC.TREAS.GOV. You can inspect and photocopy the comments at the OCC's Public Information Room, 250 E Street, SW., Washington, DC 20219. You can make an appointment to inspect the comments by calling (202) 874-5043.

Additionally, you should send a copy of your comments to Mark Menchik, OMB Desk Officer, Office of Management and Budget, New Executive Office Building, Room 3208, Washington, DC 20503. Electronic mail address is

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You can request additional information or a copy of the collection from Mary H. Gottlieb or Camille Dixon, (202) 874-5090, Legislative and Regulatory Activities Division, Office of the Comptroller of the Currency, 250 E Street, SW., Washington, DC 20219.

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The OCC has submitted the Bank Secrecy Act/Anti-Money Laundering Risk Assessment (Risk Assessment) to OMB under the emergency processing procedures in 5 CFR 1320.13. Further, the OCC has requested OMB action under these procedures by August 24, 2005. Thereafter, the OCC will seek clearance of the Risk Assessment under OMB's standard procedures.

Title: Bank Secrecy Act/Anti-Money Laundering Risk Assessment.

OMB Number: [1557-To be assigned].

Form Number: N/A.

Abstract: The Risk Assessment will enhance the ability of examiners and bank management to identify and evaluate any Bank Secrecy Act/Anti-Money Laundering risks associated with the banks' products, services, customers, and locations. As new products and services are introduced, existing products and services change, and the banks expand through mergers and acquisitions, management's evaluation of money laundering and terrorist financing risks must evolve as well. Absent appropriate controls, such as this risk assessment, these lines of business, products, or entities could elevate Bank Secrecy Act/Anti-Money Laundering risks.

Type of Review: New collection.

Affected Public: Businesses or other for-profit.

Number of Respondents: 2,042.

Total Annual Responses: 2,042.

Frequency of Response: Annually.

Total Annual Burden Hours: 21,364.

All comments will be considered in formulating the subsequent submission and become a matter of public record. Comments are invited on:

(a) Whether the collection of information is necessary for the proper performance of the functions of the agency, including whether the information has practical utility;

(b) The accuracy of the agency's estimate of the burden of the collection of information;

(c) Ways to enhance the quality, utility, and clarity of the information to be collected;

(d) Ways to minimize the burden of the collection on respondents, including through the use of automated collection techniques or other forms of information technology; and

(e) Estimates of capital or startup costs and costs of operation, maintenance, and purchase of services to provide information.

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Dated: August 4, 2005.

Stuart Feldstein,

Assistant Director, Legislative and Regulatory Activities Division.

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[FR Doc. 05-16140 Filed 8-15-05; 8:45 am]