70. Are reporting entities required to enforce enhanced due diligence policies and procedures regarding politically exposed persons?

(1) This section is subject to the requirements of the Proceeds of Crime Act.

(2) No bank shall conceal, convert or transfer cash or other property knowing that such property is derived from criminal activity, for the purpose of concealing or disguising the illicit origin of the property or of assisting any person who is involved in such activity to evade the legal consequences of his action.

(3) The knowledge described in subsection (2) may be inferred from objective factual circumstances.

(4) Notwithstanding Section 23, banks shall on their own initiative inform authorities in Tuvalu responsible for combating money laundering of any evidence that property is derived from criminal activity and provide, at the authorities’ request, any additional information, in accordance with the procedures established by applicable legislation. Banks shall accept as clients only those whose identity and beneficial ownership is known and whose source of funds and wealth can reasonably established to be legitimate.

(5) Banks shall establish written policies on the identification of and follow-up on suspicious activities, and they shall retain records of customer transactions for at least five years.

Source: Article 24, Banking Commission Act,  Act 003 of 2011

There is no specific mention of politclly exposed persosn in any money laundering law in Tuvalu