Data carrier provided with an optically variable security element for safeguarding valuable objects, wherein the surface area of the security element defines a z-axis perpendicular thereto; wherein the optically variable security element comprises a feature region containing a partially light-transmissive and partially light-reflecting transmission region and a substantially light-non-transmissive, light-reflecting reflection region, wherein - the feature region contains two independent, partially overlapping relief structures (34, 44), which are arranged at different height levels in the z-direction and form a lower-level relief structure and a higher-level relief structure, - the higher-level relief structure is provided with a semitransparent reflection-enhancing coating following the course of the relief and containing one or more high refractive index layers, - the lower-level relief structure is provided with an opaque reflection layer following the course of the relief, and - in the transmission region at least regionally the semitransparent reflection-enhancing coating of the higher-level relief structure is present, but the opaque reflection layer of the lower-level relief structure is not present, while in the reflection region the opaque reflection layer of the lower-level relief structure and at least regionally the semitransparent reflection-enhancing coating of the higher-level relief structure are present; characterized in that the data carrier has a transparent window region and a substantially opaque region, and in that the data carrier is provided with the optically variable security element in such a way that the transmission region of the security element is at least partially above the window region and the reflection region of the security element is at least partially above the substantially opaque region. - the feature region contains two independent, partially overlapping relief structures (34, 44), which are arranged at different height levels in the z-direction and form a lower-level relief structure and a higher-level relief structure, - the higher-level relief structure is provided with a semitransparent reflection-enhancing coating following the course of the relief and containing one or more high refractive index layers, - the lower-level relief structure is provided with an opaque reflection layer following the course of the relief, and - in the transmission region at least regionally the semitransparent reflection-enhancing coating of the higher-level relief structure is present, but the opaque reflection layer of the lower-level relief structure is not present, while in the reflection region the opaque reflection layer of the lower-level relief structure and at least regionally the semitransparent reflection-enhancing coating of the higher-level relief structure are present; characterized in that the data carrier has a transparent window region and a substantially opaque region, and in that the data carrier is provided with the optically variable security element in such a way that the transmission region of the security element is at least partially above the window region and the reflection region of the security element is at least partially above the substantially opaque region.