Finding that Lebanese Canadian Bank SAL is a financial institution of primary money laundering concern

1Therefore, references to the authority of the Secretary of the Treasury under section 311 of the USA PATRIOT Act apply equally to the Director of FinCEN. 2Available special measures include requiring:
(1) Recordkeeping and reporting of certain financial transactions; (2) collection of information relating to beneficial ownership; (3) collection of information relating to certain payable-through accounts; (4) collection of information relating to certain correspondent accounts; and (5) prohibition or Continued use, including interim trail use. Any request for a public use condition under 49 CFR 1152.28 or for trail use/rail banking under 49 CFR 1152.29 will be due no later than March 9, 2011. Each trail use request must be accompanied by a $250 filing fee. See 49 CFR 1002.2(f)(27). All filings in response to this notice must refer to Docket No. AB 1053 (Sub￾No. 1X), and must be sent to: (1) Surface Transportation Board, 395 E Street, S.W., Washington, DC 20423–0001; and (2) W. Robert Alderson, 2101 S.W. 21st Street, Topeka, KS 66604. Replies to MAL Railway’s petition are due on or before March 9, 2011. Persons seeking further information concerning abandonment procedures may contact the Board’s Office of Public Assistance, Governmental Affairs, and Compliance at (202) 245–0238 or refer to the full abandonment or discontinuance regulations at 49 CFR pt.
1152. Questions concerning
environmental issues may be directed to the Board’s Office of Environmental Analysis (OEA) at (202) 245–0305. Assistance for the hearing impaired is available through the Federal Information Relay Service (FIRS) at 1– 800–877–8339. An Environmental Assessment (EA) (or Environmental Impact Statement (EIS), if necessary) prepared by OEA will be served upon all parties of record and upon any agencies or other persons who commented during its preparation. Other interested persons may contact OEA to obtain a copy of the EA (or EIS). EAs in these abandonment proceedings normally will be made available within 60 days of the filing of the petition. The deadline for submission of comments on the EA will generally be within 30 days of its service. Board decisions and notices are available on our Web site at http:// www.stb.dot.gov. Decided: February 11, 2011. By the Board, Rachel D. Campbell, Director, Office of Proceedings. Jeffrey Herzig, Clearance Clerk. [FR Doc. 2011–3597 Filed 2–16–11; 8:45 am] BILLING CODE 4915–01–P DEPARTMENT OF THE TREASURY Financial Crimes Enforcement Network Finding That the Lebanese Canadian Bank SAL Is a Financial Institution of Primary Money Laundering Concern AGENCY: Financial Crimes Enforcement Network, Treasury (‘‘FinCEN’’), Treasury. ACTION: Notice of finding. SUMMARY: Pursuant to the authority contained in 31 U.S.C. 5318A, the Secretary of the Treasury, through his delegate, the Director of FinCEN, finds that reasonable grounds exist for concluding that the Lebanese Canadian Bank SAL (‘‘LCB’’) is a financial institution of primary money laundering concern. DATES: The finding made in this notice is effective as of February 17, 2011. FOR FURTHER INFORMATION CONTACT:
Regulatory Policy and Programs Division, FinCEN, (800) 949–2732. SUPPLEMENTARY INFORMATION:
I. Background
A. Statutory Provisions On October 26, 2001, the President signed into law the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001 (the ‘‘USA PATRIOT Act’’), Public Law 107–
56. Title III of the USA PATRIOT Act
amended the anti-money laundering provisions of the Bank Secrecy Act (‘‘BSA’’), codified at 12 U.S.C. 1829b, 12 U.S.C. 1951–1959, and 31 U.S.C. 5311– 5314 and 5316–5332, to promote the prevention, detection, and prosecution of international money laundering and the financing of terrorism. Regulations implementing the BSA appear at 31 CFR
part 103. The authority of the Secretary
of the Treasury (the ‘‘Secretary’’) to administer the BSA and its implementing regulations has been delegated to the Director of FinCEN.1
Section 311 of the USA PATRIOT Act
(‘‘section 311’’) added section 5318A to the BSA, granting the Secretary the authority, upon finding that reasonable grounds exist for concluding that a foreign jurisdiction, institution, class of transaction, or type of account is of ‘‘primary money laundering concern,’’ to require domestic financial institutions and financial agencies to take certain ‘‘special measures’’ against the primary money laundering concern. Section 311, as amended, identifies factors for the Secretary to consider and Federal agencies to consult before the Secretary may conclude that a jurisdiction, institution, class of transaction, or type of account is of primary money laundering concern. The statute also provides similar procedures, i.e., factors and consultation requirements, for selecting the specific special measures to be imposed against the primary money laundering concern. Taken as a whole, section 311 provides the Secretary with a range of options that can be adapted to target specific money laundering and terrorist financing concerns most effectively. These options give the Secretary the authority to bring additional pressure on those jurisdictions and institutions that pose money laundering threats. Through the imposition of various special measures, the Secretary can gain more information about the jurisdictions, institutions, transactions, or accounts of concern; can more effectively monitor the respective jurisdictions, institutions, transactions, or accounts; or can protect U.S. financial institutions from involvement with jurisdictions, institutions, transactions, or accounts that are of money laundering concern. Before making a finding that reasonable grounds exist for concluding that a foreign financial institution is of primary money laundering concern, the Secretary is required to consult with the both the Secretary of State and the Attorney General. The Secretary is also required by section 311 to consider ‘‘such information as the Secretary determines to be relevant, including the following potentially relevant factors’’:

• The extent to which such financial
  institution is used to facilitate or promote money laundering in or through the jurisdiction;
• The extent to which such financial
  institution is used for legitimate business purposes in the jurisdiction; and
• The extent to which the finding that
  the institution is of primary money laundering concern is sufficient to ensure, with respect to transactions involving the institution operating in the jurisdiction, that the purposes of the BSA continue to be fulfilled, and to guard against international money laundering and other financial crimes. If the Secretary determines that reasonable grounds exist for concluding that a foreign financial institution is of primary money laundering concern, the Secretary must determine the appropriate special measure(s) to address the specific money laundering risks. Section 311 provides a range of special measures that can be imposed individually, jointly, in any combination, and in any sequence.2 The