NEWS – Interpol has launched the first-ever “Silver Notice,” a new initiative to trace assets laundered across international borders.

HIGHLIGHTS

• Pilot Project Participation: The project, involving 52 countries, including India, aims to support the global effort to locate and recover criminally obtained assets. The pilot is scheduled to run until November 2025.
• Request from Italy: The project was initiated after a request from Italy to locate assets tied to a senior mafia member.

Key Features of Silver Notice

• Addition to Interpol’s Alerts: The Silver Notice is part of Interpol’s color-coded alerts that assist countries in tracking and retrieving assets linked to criminal activities.
• Asset Tracking: The notice targets assets involved in crimes such as fraud, corruption, drug trafficking, and environmental violations.
• International Scope: Participating nations can use the Silver Notice to request information on laundered assets that may have crossed international borders.
• Notice Distribution: The pilot project will feature 500 notices available for distribution among the participating countries.

How Silver Notice Works

• The Silver Notice helps countries track various asset types, including:
  • Properties
  • Vehicles
  • Financial accounts
  • Businesses
• The notice enables countries to identify and locate these assets, making it possible to take further legal actions such as seizure or confiscation, in accordance with national laws.

India’s Role in the Silver Notice

• India is actively participating in this pilot project, with notable potential benefits due to its involvement with fugitive economic offenders and offshore black money transfers.
• The Silver Notice could play a key role in tracing and recovering illicitly transferred assets, helping India combat financial crimes and economic offenses.