The International Criminal Police Organization, commonly known as INTERPOL, has a color-coded system of alerts that represent international requests for cooperation or alerts allowing police in INTERPOL member states to share crime-related information.
The Silver Notice is the latest addition to INTERPOL’s color-coded system of alerts. The initiative is a new step in global law enforcement efforts to combat transnational crime by tracing and recovering assets laundered across international borders.
What is a Silver Notice?
The Silver Notice is designed to allow INTERPOL to assist countries in tracking and retrieving criminally obtained assets. It facilitates international cooperation in identifying, locating, and securing assets linked to alleged offenses such as fraud, corruption, drug trafficking, and environmental crimes. The pilot phase of the Silver Notice initiative involves 52 participating countries, including the United States, United Kingdom, India, and Italy.
How Does the Silver Notice Work?
When a country issues a Silver Notice, it requests information about various types of assets that may be connected to criminal activity ranging from real estate and vehicles to financial accounts and business holdings. Once these assets are identified, authorities can pursue further legal actions such as seizure, confiscation, or recovery, depending on the national laws of the requesting country.
Unlike other INTERPOL notices, such as the Red Notice (used for the arrest of fugitives) or the Blue Notice (used to gather information about a person’s identity or activities), the Silver Notice specifically targets financial assets. This move is part of a larger strategy to disrupt organized crime by cutting off alleged illicit financial gains at the source.
The Importance of the Silver Notice in Global Law Enforcement
According to INTERPOL, an astounding 99% of criminally acquired assets remain unrecovered. By introducing the Silver Notice, INTERPOL aims to increase the effectiveness of asset tracing and confiscation across jurisdictions.
The first-ever Silver Notice was issued at Italy’s request to track assets belonging to a senior mafia figure, according to the “follow the money” principle, which has been a strategy in tracking down international crime organizations.
Why a Silver Notice is Serious and Requires Legal Expertise
If you find that you are the subject of a Silver Notice it is a serious matter. Unlike other notices that focus on individuals, a Silver Notice can lead to the identification and potential seizure of business assets, personal finances, and property. If your assets become the subject of a Silver Notice, you may face complex legal challenges, including:
- Asset Freezing and Seizure: Authorities may move to freeze bank accounts or confiscate property while investigations are ongoing.
- International Legal Proceedings: Given the cross-border nature of the Silver Notice, multiple jurisdictions may become involved, which may complicated legal defense strategies.
- Reputational Damage: Being associated with a Silver Notice can have lasting consequences on personal and professional reputations, even if no criminal charges are filed.
Individuals or entities implicated in a Silver Notice case should immediately seek legal counsel from an experienced white-collar criminal defense attorney with experience of defending complex crimes with a transnational element. A skilled attorney can assess the validity of the notice, challenge potential overreach by authorities, and navigate the complex legal landscape of international asset recovery.
INTERPOL’s Silver Notice represents a leap forward in global law enforcement’s fight against financial crime. By targeting the assets of alleged criminals, it seeks to disrupt illegal enterprises and strengthen international cooperation. For those caught in the crosshairs of a Silver Notice, the legal stakes are high. If you or your business is affected by a Silver Notice, consulting with an attorney specializing in white-collar crime is not just advisable, it is essential. At Dhar Law, LLP, we are experienced, award-winning white collar defense attorneys with decades of experience defending complex white collar crimes. If you find yourself the subject of an international investigation, don’t delay, contact a member of our experienced and dedicated team at 617-880-6155 to discuss your options.
