KYC & AML Policy of Stake Explained

KYC, or Know Your Customer, refers to the process of verifying the identity of an account holder before or during account activity. It involves collecting and confirming personal details and documentation to ensure users are who they claim to be.

AML, or Anti-Money Laundering, covers a broader set of controls designed to detect and prevent the use of financial platforms for illegal purposes, including money laundering and terrorism financing.

Licensed betting and casino platforms apply both KYC and AML procedures to meet their reporting obligations, maintain user safety, and preserve the integrity of all financial transactions on the platform.

ID verification may be requested at various points during account usage. The specific circumstances depend on transaction patterns, account activity, and applicable regulatory requirements.

Users may be asked to submit specific documents as part of the document submission process. The exact requirements depend on the verification stage and the account holder’s circumstances.

The identity check process is structured and straightforward. Most users complete the required steps without difficulty by following the platform's document submission prompts.

Step 1: Access the Verification Section
Log in to the Stake account and navigate to the account settings or profile section, where the identity verification area is located.

Step 2: Submit Personal Information
Enter or confirm the required personal details, including full name, date of birth, and residential address, ensuring all information matches the documents to be submitted.

Step 3: Upload Supporting Documents
Upload clear, legible copies of the required documents. Files must meet the format and quality requirements specified during the document submission process.

Step 4: Await Review
The submitted documents are reviewed by the platform's compliance team. During this period, the account holder may be contacted for additional information if required.

Step 5: Receive the Verification Result
Once the review is complete, the account holder is notified of the outcome. A successful ID verification allows full access to account features, including deposits and withdrawals.

Anti-money laundering procedures are in place to prevent financial crime, protect user safety, and ensure the platform operates in full compliance with applicable laws. These measures apply to all account holders without exception.

• Identity verification: Every account holder is subject to ID verification to confirm their identity before financial transactions are processed;
• Transaction monitoring: All deposits and withdrawals are subject to ongoing transaction monitoring to detect irregular or suspicious activity;
• Source of funds checks: In certain circumstances, account holders may be asked to provide evidence of the origin of funds used on the platform;
• Fraud prevention: Security measures are in place to identify and prevent fraudulent behaviour, including the use of multiple accounts or falsified documentation;
• Compliance reviews: Periodic account reviews are conducted to ensure continued adherence to AML standards and regulatory requirements.

Verification timelines vary based on document quality, the completeness of the submission, and the current volume of reviews being processed. Delays are most commonly caused by incomplete or unclear submissions.

Most identity checks are completed without complications. However, certain common issues can delay or prevent successful document submission.

• Blurred or low-resolution images: Documents that are not clearly legible will be rejected; users should ensure all text and photographs are fully visible before uploading;
• Mismatched personal details: If the name, date of birth, or address on submitted documents does not match the account information, verification cannot proceed; the account holder should update their details before resubmitting;
• Expired identification: Documents that have passed their validity date are not accepted; a currently valid, government-issued ID must be submitted in its place;
• Incomplete uploads: Submitting only a partial document, such as a single side of a double-sided ID, will result in an incomplete review; all required sides and pages must be included;
• Unsupported file formats: Files submitted in formats not accepted by the platform will not be processed; users should confirm the accepted file types before uploading.

All personal data and documentation submitted during the ID verification process are handled in accordance with the platform’s privacy policy and applicable data protection standards. Documents are transmitted via secure connections to prevent unauthorised interception. Access to submitted files is restricted to authorised compliance personnel only. Personal data is retained for the periods required under applicable regulatory frameworks. Account holders can refer to the platform’s privacy policy for full details on how their information is stored and managed.

Account holders have a direct role in ensuring the verification process is completed accurately and efficiently. Cooperation with the platform's compliance procedures is a condition of account use.

• Accurate information: All personal details provided during registration and verification must be truthful and consistent with official identification documents;
• Clear document uploads: Submitted files must be legible, complete, and free of obstructions, cropping, or editing;
• Timely responses: Account holders are responsible for responding promptly to any verification requests or follow-up communications from the compliance team;
• Up-to-date account information: If personal details change, such as a residential address, the account holder is responsible for updating their information and resubmitting documents if requested;
• Sole account ownership: Each account must be registered and used by the verified account holder only; sharing account access is prohibited under the platform's terms.