INTERPOL in 2024 – a colourful year

24 Dec 2024, 51 mins ago

As we head towards the end of 2024, INTERPOL has continued its focus on enhancing its transactional financial crime fighting abilities.

More specifically, throughout this year we examined in detail such tools as the INTERPOL diffusion (and how it differs from the INTERPOL Red Notice), as well as the whole range of coloured notices available for a variety of different situations.

We also analysed various INTEPROL initiatives, including the I-GRIP tool and Operation First Light.

Finally, we looked at what was being discussed at the latest INTERPOL regional conference and explored such questions as ‘Why is Taiwan Not on INTERPOL’?

Background

Throughout 2024, we continued to publish a series of blogs highlighting significant INTERPOL news and announcements that we anticipated would steer towards INTERPOL’s priorities as the year played out.

Ultimately, it was clear from the blogs that INTERPOL would continue to focus on enhancing transnational financial crime fighting abilities.

Specific measures discussed included the launch of INTERPOL’s I-GRIP tool, as well as such crypto initiatives as Operation First Light.

We also turned our focus to the UAE and the various measures implemented there that could have an effect on international cooperation.

INTERPOL and 2024

As such, as we near towards the end of 2024, INTERPOL continued to focus on globally coordinating the fight against financial crime.

We shall now look back again over the significant INTERPOL developments in 2024.

INTERPOL in 2024: significant developments and news items

April 2024 – What is an INTERPOL diffusion (and how does it differ from an INTERPOL Red Notice)?

In April 2024, we discussed what an INTERPOL diffusion is and how it differs from an INTERPOL Red Notice.

July 2024 – Can I appeal an INTERPOL CCF decision?

In July 2024, we discussed in detail how frustrating it was to be subject to an INTERPOL measure and find that INTERPOL does not accept your application for correction and/or deletion. We explained what one can do in this situation.

July 2024 – Crypto and INTERPOL – INTERPOL intercepts cryptocurrency as part of wider global operation

Also in July 2024, we discussed a new INTERPOL operation intending to pursue individuals alleged to be involved in criminal activities related to cryptoassets.

August 2024 – INTERPOL and crypto (Part 2) – INTERPOL recovers millions following alleged business email Scam

In August 2024, we detailed INTEPROL’s Operation First Light, its I-Grip Mechanism and confirmed INTEPROL’s suitability in investigating allegations involving crypto.

October 2024 – Sibos 2024: A Surge in Countries Turning to INTERPOL’s I-GRIP Tool

In October 2024, we explained that as international financial crime grows more sophisticated, more countries are adopting INTERPOL’s I-GRIP Tool and what this does.

November 2024 – Financial Crime Focus: Glasgow Hosts INTERPOL and Interpol

In September 2024, we explained how Glasgow was hosting both the renowned band Interpol and the international crime police organisation INTEPROL.

November 2024 – Why is Taiwan not part of INTERPOL, and could this be about to change

Also in November 2024, we explored why Taiwan was not part of INTERPOL and detailed the agenda at the INTERPOL General Assembly.

Finally, a colourful year!

Finally, throughout 2024 we explored the whole range of different INTERPOL notices available:

INTERPOL, Red Notices, crypto and 2024!

Those who fear that a jurisdiction may have requested INTERPOL to process data relating to them in connection with any allegations of offences involving crypto, or even in the Metaverse!, or are just concerned about potential liability, should get in contact.

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:

How to best approach a possible INTERPOL red notice;
Preparing for potential criminal proceedings / an extradition request;
Preparing for a situation where a civil matter or commercial dispute could be used to initiate bogus criminal proceedings; and
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):

Regulation and compliance

In these constantly changing times, firms that deal with cryptoassets, and additionally have exposure to firms that do, will need to carefully consider all their systems and controls to ensure that they are able to comply with all relevant AML and sanctions regulations.

How Gherson can assist

Gherson’s white-collar crime and regulatory team are able to provide advice and assistance with AML and sanctions compliance, including in situations involving cryptoassets.

Additionally, the team has recently started a series on the regulation of crypto, with the aim of advising those who work in the compliance of this sector. Furthermore, for those who would like advice on relevant issues, including those who have had issues with the FCA registration process, our specialist regulatory and compliance team can guide individuals and companies through the process.

Updated: 24 December 2024

Please do not hesitate to contact us for further advice, send us an e-mail, or, alternatively, follow us on X, 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.