Is a bank, in Tuvalu

Banking Commission Act (Act 3 of 2011, Cap. 38.02), ss. 38(4) and 39(2)-(3) · Read the law's page

• This binds a bank, a person engaged in the business of accepting deposits in Tuvalu and using the funds to make extensions of credit or investments, including a branch of a bank organised in another jurisdiction, and is reached by declaring that you are a bank.
• Maintain adequate security for your Internet or proprietary platforms if you give customers computer access, including adequate systems for customer authentication and for physical and logical protection against unauthorised external access by individual penetration attempts, computer viruses, denial of service and other forms of electronic access (section 38(4)).
• Have adequate systems to identify, monitor and control transactional risk from your use of technology if you operate as an Internet bank (section 39(2)).
• Have adequate security for your Internet platforms if you operate as an Internet bank, including adequate systems for customer authentication and for physical and logical protection against unauthorised external access by individual penetration attempts, computer viruses, denial of service and other forms of electronic access (section 39(3)).