[Singapore] Why do I have to verify my identity?

This is a requirement by Stripe, our trusted payment partner, to collect, verify, and maintain identity information on the individuals associated with a Stripe account.

These requirements come from regulators and financial partners, and are intended to promote transparency and prevent individuals from using complex company structures to hide terrorist financing, money laundering, tax evasion, and other financial crimes. In particular, these requirements include those contained under the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act, Terrorism (Suppression of Financing) Act, and sanction regulations.

Starting 30 May 2022, users will be prompted to re-verify their ID, even if you have already done so previously. This is an updated requirement from Stripe, in order to comply with the Singapore’s Payment Services Act (PSA) 2019 and Notice PS-N01 whereby Stripe needs to conduct the verification flow and obtain the information directly from you. Users will be allowed to continue using Carousell Protection but you will no longer be able to cash out your balance if you have yet to re-verify your ID with Stripe. Please note that this flow will redirect you to the Carousell web, and you will be requested to log into your Carousell account before being redirected to Stripe’s website.  

Please ensure that you have updated your app to the latest version in order to proceed with this new re-verification flow.

You may follow the steps to verify your ID here. 

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