Interpol 'Silver Notice': A Game-Changer in Global Asset Recovery

The new Interpol 'Silver Notice' is being lauded as a more effective tool than MLATs for tracking illicit offshore assets. Proposed by Prime Minister Narendra Modi in 2015, its implementation was realized in 2022. This initiative aims to enhance international cooperation and streamline financial information exchange.

The Interpol 'Silver Notice', recently introduced, is being hailed as a more effective tool for tracking illicit offshore assets compared to the Mutual Legal Assistance Treaties (MLATs). CBI Director Praveen Sood described it as Prime Minister Narendra Modi's visionary initiative, which has now been actualized.

In an exclusive talk with PTI, Sood revealed that Modi first proposed the idea in 2015 to trace laundered assets globally, which has now materialized into the Silver Notice. This new tool aims to locate illicit assets laundered internationally, adding to the Interpol's suite of eight color-coded notices and diffusions.

The traditional method of gathering information on such illicit assets was through MLATs, agreements between two countries to assist in crime prevention and investigation. However, challenges like excessive requests causing delays make Silver Notice a more streamlined option. The pilot phase involves 52 countries and will run until November 2025.

(With inputs from agencies.)