In a landmark move aimed at combatting transnational financial crimes, India has secured its first Interpol Silver Notices against fugitives linked to visa fraud and crypto scams. The notices, newly introduced to trace illicit assets globally, mark a paradigm shift in how countries pursue financial criminals across borders.
A New Tool in Global Crime Fighting: The Rise of the Silver Notice
In an unprecedented step, the Interpol has issued two Silver Notices—a new category introduced in January 2024—at the request of India, targeting the illicit global assets of two high-profile fugitives: former French Embassy officer Shubham Shokeen and alleged crypto fraudster Amit Madanlal Lakhanpal.
Silver Notices are designed to help track assets acquired through criminal activities such as fraud, corruption, drug trafficking, and environmental crime. The tool enables member countries to identify and request information on properties, businesses, vehicles, and financial accounts linked to criminal suspects worldwide.
This innovative framework marks a critical evolution in Interpol’s cooperation mechanisms. While Red Notices call for arrest and extradition, and Blue Notices seek information on suspects, Silver Notices go after the money—an often overlooked but essential piece of modern criminal operations.
India is among 51 nations participating in the pilot phase, which runs until November. Each country is allowed to request up to nine Silver Notices, making every request highly strategic. The Central Bureau of Investigation (CBI), which serves as India’s nodal Interpol agency, has spearheaded these notices to advance bilateral recovery of laundered assets.
Visa-for-Cash and Dubai Real Estate: The Shokeen Case
The first Silver Notice, issued on May 23, targets Shubham Shokeen, who served as a Personnel Visas and Local Law Officer at the French Embassy in New Delhi. According to the CBI, between September 2019 and May 2022, Shokeen conspired with other accused individuals to illegally facilitate Schengen visas in exchange for bribes ranging from ₹15 to ₹45 lakh per applicant.
The illicit proceeds from this operation were allegedly laundered and invested in six properties worth over 7.76 million dirhams (₹15.7 crore) in Dubai, making it a textbook case of visa fraud feeding into international money laundering.
While a Blue Notice was previously issued to trace Shokeen’s physical location, the new Silver Notice extends the scope to asset tracing—a move officials describe as critical in dismantling the infrastructure of white-collar crime.
“The goal isn’t just to catch the fugitive,” a CBI source explained, “but to ensure that the crime doesn’t pay. That’s what Silver Notices allow us to do.”
Crypto Fraud and False Promises: The Lakhanpal Saga
The second Silver Notice, issued on May 26, targets Amit Madanlal Lakhanpal, who is wanted by the Enforcement Directorate (ED) for allegedly floating an unregulated cryptocurrency called MTC. The CBI states that Lakhanpal posed as a representative of the Ministry of Finance to win investor confidence and collected over ₹113 crore through deceptive promises.
The cryptocurrency, which was not recognized by the RBI or backed by any legal framework, was part of a classic Ponzi scheme, with investors promised massive returns that never materialized. According to officials, Lakhanpal neither returned the principal amounts nor fulfilled promised gains—funneling funds into unknown accounts and properties.
The Silver Notice will assist Indian authorities in identifying where and how the embezzled funds were stashed, including in foreign jurisdictions where cooperation often hits bureaucratic roadblocks.
“These fraudsters have mastered the art of financial camouflage,” an ED official noted. “Now we finally have a tool that can cut through offshore opacity.”
Conclusion: Towards a Global, Asset-Focused Criminal Justice Approach
India’s deployment of the Interpol Silver Notice represents a major leap in the evolution of international crime enforcement—from chasing criminals to chasing their wealth. With the CBI, ED, and Narcotics Control Bureau already lining up additional requests, the pilot program could become a template for future global asset recovery operations.