INTERPOL and The Financial Action Task Force launch joint-initiative

INTERPOL and The Financial Action Task Force (“FATF”) have recently launched a joint-initiative to assist global coordinated cross-border efforts to recover illicit assets and deprive criminals of their ill-gotten gains.

Background

A 13 September 2022 FATF publication details how the first ever INTERPOL and FATF roundtable event gathered more than 150 high-level experts. According to the publication, some of the issues discussed included the need to:

• Promote national policies and actions that prioritise the tracing, seizure and confiscation of criminal assets.
• Enhance operational cooperation at the national, regional and international levels; and
• Increase effective information sharing among public authorities and with the private sector.

As the publication makes clear, in an age when stolen assets are often moved abroad and quickly channelled through multiple jurisdictions, rendering the process of asset recovery complex, this initiative will certainly go some way to prioritising cross-border tracing, seizure and confiscation of criminal assets.

Increasing attempts to tackle global fraud and assist asset recovery

In addition, Gherson’s criminal litigation, investigations and regulatory team have previously written about how INTERPOL has also recently launched a worldwide crackdown on social engineering fraud. 

This has resulted in hundreds of individuals arrested and millions seized. This operation demonstrates how INTERPOL could play an increased part in these types of operations going forward.

Launch of INTERPOL’s Financial Crime and Anti-Corruption Centre

We have previously discussed the launch of INTERPOL’s Financial Crime and Anti-Corruption Centre (“IFCACC”). As has been previously discussed, this should result in much more sophisticated international information sharing. This will surely also improve the ease with which INTERPOL member countries will be able (through INTERPOL) to investigate, locate, and potentially bring to justice, those alleged to have committee offences of financial crime.

Enhanced police cooperation – what does this mean?

INTERPOL continues to identify and expand into areas for enhanced cooperation and thus continue to extend their reach and capabilities in all directions.

With regard to investigations against individuals, the potential for enhanced information sharing, and potentially easier access to evidence, from a broader scope may ultimately result in charges against those who are based in the UK, extradition requests being issued against those based abroad, or INTERPOL Red Notices more readily leading to extradition proceedings being initiated. 

Therefore if you have conducted business and are worried about liability, if you have unresolved financial matters, including even an outstanding civil dispute, and you fear that you may be subject to INTERPOL measures, including a Red Notice, expert legal advice should be immediately sought.

How Gherson can help

Those who fear that they may be subject to INTERPOL measures, including a Red Notice, should take heed.

Indeed, Gherson Solicitors continue to receive requests for expert advice and assistance from those who fear they may have outstanding financial issues arising. That advice tackles:   

1. How to best approach a possible INTERPOL red notice;
2. Preparing for potential criminal proceedings / an extradition request;
3. Preparing for a situation where a civil matter or commercial dispute could be used to initiate bogus criminal proceedings; and
4. Even exploring the possibility of instigating civil litigation proceedings to recover any misappropriated assets.

Gherson have previously written a series of blogs designed to assist those who fear they might be subject to INTERPOL measures (including a Red Notice):

INTERPOL and Red Notice Challenges

How to Remove an INTERPOL Red Notice

INTERPOL Red Notices and Extradition

How do I know if I am subject to an INTERPOL Red Notice

Gherson has over 30 years of experience in assisting with all aspects of INTERPOL, Red Notice challenges and extradition. If you would like to speak to us in respect of any of the issues raised in this video or about your specific circumstances,  do not hesitate to contact us for advice, send us an e-mail, or alternatively, follow us on Twitter, Facebook, or LinkedIn to stay-up-to-date.

The information in this blog is for general information purposes only and does not purport to be comprehensive or to provide legal advice. Whilst every effort is made to ensure the information and law is current as of the date of publication it should be stressed that, due to the passage of time, this does not necessarily reflect the present legal position. Gherson accepts no responsibility for loss which may arise from accessing or reliance on information contained in this blog. For formal advice on the current law please do not hesitate to contact Gherson. Legal advice is only provided pursuant to a written agreement, identified as such, and signed by the client and by or on behalf of Gherson.

©Gherson 2022

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