Interpol launches new tool to track illicit wealth across borders

Interpol has introduced a silver notice to enable the tracing of illicit wealth that has been laundered across borders.

Kenya is amongst 52 countries that are participating in its pilot phase which is set to run till November this year.

"The Silver Notice is the newest addition to the organisation's suite of colour-coded Notices and Diffusions, which enable countries to share alerts and requests for information worldwide. It is being launched as part of a pilot phase involving 52 countries and territories, which will run at least until November 2025," said the organisation in a statement released on Friday.

First to benefit is Italy, which has sought the organisation's assistance in tracing the wealth of a notorious mafia.

Currently, Interpol has eight types of colour-coded notices which allow member countries to seek specific kinds of information worldwide.

The Red Notice allows a country to request the detention of a fugitive living in another country.

Through Silver Notices and Diffusions, member countries can now request information on assets linked to a person's criminal activities such as fraud, corruption, drug trafficking, environmental crime and other serious offences.

"It will facilitate locating, identifying, and obtaining information about laundered assets including properties, vehicles, financial accounts and businesses. Countries may subsequently use such information as a basis for bilateral engagement, including bilateral requests for seizure, confiscation or recovery of assets, subject to national laws," the organisation added.

Interpol's new Secretary General Valdecy Urquiza added that stripping criminals and their networks of illegal profits is one of the most powerful ways to fight transnational organised crime, especially considering that 99 per cent of criminal assets remain unrecovered.

"By targeting their financial gains, Interpol is working to disrupt criminal networks and reduce their harmful impact on communities worldwide," he explained.

Currently, Italy chairs Interpol's Expert Working Group on Asset Tracing and Recovery.

The Deputy Director General of Public Security and Director of the Italian Criminal Police said the country is confident the Silver Notice and Diffusion will bring positive results, encouraging global law enforcement to enhance asset recovery efforts.

"It is of particular significance that this inaugural Notice has been issued at the request of investigators from the Guardia di Finanza in Palermo—a city synonymous with the Transnational Organized Crime Convention and its emphasis on the 'follow-the-money' principle," Interpol said.

The decision to pilot the inaugural Silver notice and diffusion was arrived at during the 91st General Assembly in 2023 when the Group chaired by Italy was tasked with the role of designing the pilot and its safeguard measures.

While Notices are shared with all 196 member countries, diffusions may be directed to selected relevant countries.

"The General Secretariat will review every Silver Notice and Diffusion for compliance with the Organization's rules prior to its publication or circulation. This includes ensuring they are not used for political purposes, in contravention of Article 3 of Interpol's Constitution," Interpol assured.

During the pilot phase, extracts of Silver Notices will not be made public.