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DEPARTMENT OF THE TREASURY

Comptroller of the Currency

NOTICE: NOTICES

DOCUMENT ACTION: Notice and request for comments.

SUBJECT CATEGORY: Submission for OMB Review; Comment Request

DATES: Written comments should be submitted by August 24, 2005.

DOCUMENT SUMMARY: 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.''

SUMMARY: Agency information collection activities; proposals, submissions, and approvals,

SUPPLEMENTAL INFORMATION

The OCC has submitted the Bank Secrecy Act/ AntiMoney 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/AntiMoney Laundering Risk Assessment.

OMB Number: [1557To 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/AntiMoney Laundering risks.

Type of Review: New collection.

Affected Public: Businesses or other forprofit.

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.

Dated: August 4, 2005.
Stuart Feldstein,
Assistant Director, Legislative and Regulatory Activities Division. [FR Doc. 0516140 Filed 81505; 8:45 am]
BILLING CODE 481033P

FOR FURTHER INFORMATION CONTACT You can request additional information or a copy of the collection from Mary H. Gottlieb or Camille Dixon, (202) 8745090, Legislative and Regulatory Activities Division, Office of the Comptroller of the Currency, 250 E Street, SW., Washington, DC 20219.