Silver Notice 'more effective' for info on illicit wealth: CBI director

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Silver Notice 'more effective' for info on illicit wealth: CBI director - Business Standard

Quick Summary:

Terming the recently introduced Interpol 'Silver Notice' a "more effective" tool than the Mutual Legal Assistance Treaties (MLATs) for gathering information on illicit assets parked offshore, CBI Director Praveen Sood has said it was Prime Minister Narendra Modi's idea, which has now been realised.

The Notice, aimed at locating illicit assets laundered across borders, is the newest addition to the Interpol's suite of eight colour-coded Notices and Diffusions, which enable countries to share alerts and requests for information worldwide.

In an exclusive interaction with PTI, he said Prime Minister Modi had proposed in 2015 a system under the Interpol to trace money laundered offshore, and it has now taken shape as the Silver Notice.