StarCheck Unveils Highly Accessible and Affordable Retail AML Checks
In light of the staggering $24.2 billion lost to crypto-related fraud in 2023, both individuals and companies are taking proactive steps to secure their wallets, turning to do-it-yourself retail AML checking services.
TALLINN, ESTONIA. XX MAY, 2024. // StarCheck StarCheck, a tool designed for private AML checks, has touted itself as the most cost-effective and accessible option available today. For just $29, users can acquire a StarCheck Pro package that includes 100 AML checks, pricing each check at a mere $0.29, a significant drop from the $0.99 pay-as-you-go option offered by competitors. In addition, Pro users enjoy complimentary priority support, providing an edge in staying protected from scammers and the fallout of dealing with 'tainted' digital assets.
Based in Estonia, the company is a strong advocate for heightened AML and KYC checks, reflecting the volatile state of the cryptocurrency market. They emphasize the importance of conducting due diligence through private AML checks prior to any transaction as a means of shielding oneself from engaging with unknown and potentially harmful individuals. Historically, retail AML checks were reserved for cryptocurrency exchanges as part of larger contracts, but thanks to StarCheck, individuals can now conduct checks on wallet addresses, thus pushing for a more democratic approach to finance and a distribution of power.
Archy Park, a spokesperson for StarCheck, shared insight regarding the newfound accessibility, stating, \"Imagine you're a merchant—would you accept cash if you knew it was stolen? Probably not, right? But what if you were unaware, yet could effortlessly verify whether the funds were clean without tipping off the other party? That’s a much safer position, wouldn’t you agree?\"
"Fortunately, the transparent nature of on-chain cryptocurrency assets allows us to trace the history of these tokens. StarCheck's technology identifies coins that have been stolen, passed through illicit mixing services, or associated with wallets flagged for money laundering or listed for cybercrime sanctions. We provide an invaluable service to honest crypto enthusiasts, protecting them from the many bad actors that perpetrate crypto-related scams annually. Plus, for those curious to try it out, the first ten checks are free,\" Park added.
StarCheck positions itself as \"being on the right side of crypto\" and has designed a service aimed at two primary groups: those involved in P2P cryptocurrency exchanges and merchants who accept cryptocurrency as a payment option. Users must complete a four-step checking process: copy the wallet address of the other party, choose the cryptocurrency to be sent, hit 'Check', and receive a rating from one to five stars. A single star indicates high risk associated with the wallet, suggesting involvement in fraudulent activity, while a five-star rating means the wallet is clear of issues. Users can perform checks on a vast array of over 8,000 cryptocurrencies, and the results come with a sharable link and a signed PDF report.
Cryptocurrency addresses often face flags for illegal activities, owing to the transparent characteristics of blockchain operations. Until now, honest users caught up in unfortunate circumstances found themselves flagged by exchanges for holding illicit funds. With this affordable preventative tool, the industry can tackle these challenges. The effect could resonate widely, as the prevalence of account freezes and illegal transactions decreases, thanks to a more vigilant approach from users.
Previously, AML checks were merely a formality tied to cryptocurrency exchange registrations, but now they are within reach for everyone. By removing the requirement for individuals to sign contracts with large corporations for AML services, StarCheck aspires to continue its mission of educating users about the importance of retail-level AML checks.
About StarCheck
StarCheck delivers a fast and effective AML verification service for cryptocurrency wallets. Users can explore wallet addresses to prevent freezing actions on USDT, Bitcoin, Ethereum, and over 8000 assets.
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Company name: StarCheck
Company Website: StarCheck.io
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For additional details or official statements from StarCheck, please reach out to Archy Park.
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