Why are there multiple levels of identity verification?

Currently, in order to ensure user safety and compliance with regulations, Starcks provides three levels of identity verification:

• Level 1: limited to deposits on the platform of a maximum annual value of €5,000.00;
• Level 2: authorisation to deposit an annual value equal to or greater than £5,000.01, but less than £20,000.00, on the platform;
• Level 3: authorisation to carry out transactions with a cumulative annual value equal to or greater than £20,000.01.

Level 1 verification is required to deposit any amount below the annual threshold of €5,000.00. In addition, based on the total amount deposited during the year, Starcks will automatically verify the level of identity verification required for your transaction profile and will ask you, if necessary, to proceed with Level 2.

Level 2 verification is also required to authorise withdrawal transactions, as required by anti-money laundering regulations.