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INTERPOL’s Silver Notices and India’s Crypto Crackdown: Legal Implications for Cross Border Asset Recovery

In a development of growing significance to cross border legal practitioners and asset protection advisors, INTERPOL has introduced a new category of international alert: the Silver Notice. This tool, designed to trace and recover criminal assets globally, represents a material evolution in the architecture of international law enforcement. In May 2025, India issued its first ever Silver Notices, applying the mechanism in two high value crypto fraud cases. The move signals a more assertive posture by Indian authorities and underscores a broader trend of convergence between asset recovery, financial regulation, and cross border policing.

What Is An INTERPOL Silver Notice?

Launched in January 2025, the Silver Notice is INTERPOL‘s latest alert mechanism, joining its suite of colour coded notices such as the Red (wanted persons) and Blue (location of suspects). Uniquely, the Silver Notice is designed not to locate individuals, but to trace proceeds of crime, including real estate, corporate interests, financial accounts, and digital assets such as cryptocurrency wallets and NFTs.

The mechanism operates under INTERPOL Rules on the Processing of Data (RPD) and is primarily used to facilitate international cooperation in asset identification and restraint, often preceding mutual legal assistance requests or asset seizure applications in local courts.

India’s First Silver Notice: A Strategic Shift

As part of a pilot involving 51 participating countries, India has deployed its first ever Silver Notices in the following two matters:

Shubham Shokeen

A former visa officer at the French Embassy in Delhi, accused of issuing Schengen visas in exchange for bribes ranging from  ₹15 lakh to ₹45 lakh per applicant. The proceeds were allegedly used to purchase luxury property in Dubai valued at 15.7 crore. India had earlier issued a Blue Notice to locate Mr Shokeen; the Silver Notice now aims to trace and recover his Dubai assets.

Amit Lakhanpal

The founder of a fraudulent cryptocurrency scheme, MTC, which raised ₹113 crore from investors without regulatory approval. Lakhanpal is accused of impersonating a senior government official and misappropriating funds internationally. A Red Notice was previously issued against him; the new Silver Notice targets the recovery of assets generated by the scam.

The significance of these notices cannot be overstated. This is not only India’s first deployment of this enforcement tool, it is also one of the first globally, placing India at the forefront of INTERPOL’s new asset recovery regime.

Legal Analysis: Implications for the UK and Cross Border Practice

For clients and advisers with international exposure, particularly those operating in digital finance or holding property abroad, Silver Notices introduce a new category of legal risk. From a UK legal standpoint, several key frameworks come into focus:

1. Proceeds of Crime Act 2002 (POCA) and Civil Recovery. Under Part 5 of POCA, UK enforcement agencies such as NCA or HMRC can initiate civil recovery proceedings based on foreign intelligence, including INTERPOL notices. A Silver Notice involving assets in the UK could prompt an Account Freezing Order (AFO) or Property Freezing Order (PFO), even in the absence of domestic criminal proceedings.
2. Economic Crime and Corporate Transparency Act. Recent amendments under this legislation have strengthened the ability of UK agencies to seize and convert crypto assets linked to criminal activity. These powers can be exercised on the basis of intelligence from foreign jurisdictions, including INTERPOL alerts, if properly supported by evidence.
3. Mutual Legal Assistance and Bilateral Agreements. The UK India Mutual Legal Assistance Treaty (MLAT) and provisions under the Crime (International Co operation) Act 2003 permit cooperation in tracing and seizing assets, even where those assets are held by nominee structures, SPVs, or in anonymised digital wallets. A Silver Notice can serve as a basis for initiating such cooperation.
4. Due Process and Abuse Safeguards. Silver Notices do not currently undergo the same scrutiny as Red Notices, but clients subject to one may experience reputational harm, banking restrictions, or immigration complications. There remains the possibility of challenging such notices before INTERPOL’s Commission for the Control of Files (CCF) on grounds such as procedural fairness, abuse of process, or violation of due process norms.

Strategic Guidance for Clients and Institutions

The emergence of Silver Notices has direct implications for:

• Private clients with cross border wealth structures
• Crypto asset holders, including early investors and exchangers
• Family offices managing international portfolios
• Banks and fiduciaries with KYC and PEP screening obligations

At Quastels, we advise clients facing complex international scrutiny and enforcement risks, including INTERPOL alerts, crypto seizures, and asset protection matters. Our multi-disciplinary approach spans immigration, international protection, and cross border support.

Conclusion

The deployment of Silver Notices marks a pivotal shift in the global enforcement landscape, signalling that suspected financial crime, particularly involving digital assets, will increasingly be met with proactive, internationally coordinated responses. For individuals and institutions with cross border exposure, the focus is no longer solely on personal liability but on the traceability and recovery of assets, wherever they are held.

At Quastels, we are uniquely positioned to guide clients through this complex terrain, combining technical expertise in international protection, and immigration with a strategic understanding of international enforcement trends.

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From Likes to Legacy: Succession Planning for Influencers

Digital estate planning is an essential aspect of modern estate planning, especially as we spend more time online and accumulate valuable digital assets.

For some individuals, the digital world has evolved into a space where they have been able to grow their own personal brand and following, and platforms to generate substantial wealth through influencer marketing, brand deals and sponsorships, as well as their own business ventures.

Content creators and influencers have valuable intellectual property (IP) tied to their social media presence and digital content. For this growing group of individuals, digital estate planning is becoming increasingly important, to ensure their digital assets are properly managed, protected and passed on after their death.

What is Digital Estate Planning?

Digital estate planning refers to the process of managing and organising an individual’s online assets, digital accounts, and IP in the event of their death or incapacitation.

This process is especially important for influencers and content creators, whose livelihoods are deeply intertwined with their online presence.

The unique business model and asset profile of an influencer presents specific challenges for estate planning, including the non-transferability of digital assets, the need to clearly identify digital assets, the structuring of IP and brand ownership to avoid legal disputes, and creating clear guidelines and restrictions for posthumous content use, if desired.

Management of Digital Assets

With the growth of numerous social media networks and online revenue streams, content creators and influencers often manage multiple online platforms, each with unique policies regarding account access and transferability after death.

Importantly for digital estate planning, digital property cannot vest with the executors or personal representatives of an estate if it cannot be identified, accessed and retrieved. Accordingly, there are crucial steps that should be taken, particularly by those whose digital assets hold significant financial value, to ensure that their digital assets, which are often intangible, pass safely to the intended beneficiaries.

A frequently updated list or inventory of digital assets and accounts serves as the foundation of an individual’s digital estate plan and is essential to ensure that digital assets are accounted for and not overlooked. For content creators and influencers, this includes, but is not limited to, their social media accounts, IP, revenue-generating sources like ad revenue from YouTube or TikTok, affiliate marketing or income from digital courses or products, as well as digital collectibles such as NFTs or cryptocurrency.

Compliance with account access and terms of service agreements is crucial when managing digital assets, and advice concerning the Computer Misuse Act 1990 ought to be taken.

Legal and Financial Clarity

An influencer’s name, logo, and digital content can constitute and amount to a financially valuable estate, and can continue to generate revenue even after death. However, if the ownership of the IP rights is not clearly defined and legally structured, disputes may arise between beneficiaries, business partners, and brand managers, potentially complicating the administration of the estate.

Standard personal possession legacies in Wills are often phrased in terms of the statutory definition of personal possessions, or personal chattels, under the Administration of Estates Act 1925. The definition, however, does not include property interests in digital assets that, by their nature, are intangible.

For Wills that do not specifically bequest an individuals’s digital assets, the digital assets form part of the residue of an estate and will pass to the residuary beneficiaries. This, however, may not be in line with the individual’s wishes.

For individuals with valuable digital assets, a separate digital assets clause is therefore essential, and should be drafted to include instructions and guidance on the access and management of the digital assets it disposes of. Careful consideration should be taken with respect to the wording of this clause, to avoid the inclusion of digital assets that an individual may wish to dispose of separately, either via a separate gift or Will trust.

Thought should also be taken if appointing a digital executor, to ensure they have the required technical knowledge to administer the digital estate. A digital executor’s responsibility may include gaining access to accounts and revenue sources, deciding whether to continue, sell, or shut down the brand, negotiating brand deals on behalf of the beneficiaries, and protecting IP from misuse.

Posthumous Control

For content creators and influencers, their digital content is often deeply personal, and reflective of their own creativity and individual journey. For some, it is important to plan for their IP’s future use, to ensure that their digital legacy aligns with their values and wishes, even after they are gone.

For those who wish to control how their content is used post-death, it is essential to define ownership, put in place the appropriate structures, and specify any limitations on how that content can be used. This can include limiting commercial exploitation, restricting artificial intelligence (AI) modifications, controlling brand collaborations, or setting timelines for the use or licensing of content.

With rapid advances in AI technology, including AI content modifications, recreations and deepfakes, it is feasible, more so now than ever, for new content to be created in the style of the original creator, whether that be new audios or videos, that may not necessarily be in line with the deceased’s original intent or beliefs, leading to the possibility for an individual’s likeness to be exploited and their legacy tarnished, if not appropriately addressed before death.

Helping You Find the Right Solution

In the digital age, digital estate planning, particularly for those who have a significant online presence, is an increasingly important and complex aspect of estate planning. By taking steps to document your IP, and communicating your wishes early, you can ensure that your digital legacy not only passes to your intended beneficiaries, but aligns with your personal and professional values, even after you are gone.

To discuss your requirements and find out how we can help you, please get in touch.

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Cryptoassets and UK Tax- FAQs

UK tax returns are due by the end of January – but do you know whether you need to report your cryptoassets?

31 January is a key date in the UK tax year, as the deadline for submitting a self-assessment tax return.  Hopefully by the time you read this you will be secure in the knowledge that your own return has been submitted, if you are a self-assessment taxpayer.  However, if you have been investing in cryptoassets, are you sure that you have reported everything you need to? Unfortunately, given this is such a new type of asset and the law is still being established, many people are unaware of the tax rules relating to their cryptoasset holdings.

For example, have you ever found yourself thinking along the following lines: 

• I’ve invested into crypto, and I switch between different tokens from time to time, but until I cash in for fiat currency I don’t have any tax issues to worry about. 

• I can’t have a UK tax liability on my crypto, because I’m within the FIG regime, and only deal with offshore exchanges. 

• I don’t need to declare tax on my crypto, because HMRC have never asked me to submit a tax return. 

If so, you need to carefully consider your tax position – read on for more details. 

Capital Gains Tax  – Do I have to pay CGT on cryptoassets? 

In the UK, capital gains tax (CGT) is payable on the disposal of any asset.  In a straightforward case, this would be when you sell something for cash.  For example, if you purchased a Bitcoin in 2010 for £10,000, and you’re selling it now for £80,000, then you would have made a capital gain of £70,000, less any deductible costs. 

Do I have to pay tax if I swap one crypto token for another? 

However, the concept of a disposal goes far beyond a cash sale.  For one thing, it includes an exchange of one asset for another, even where one cryptoasset token is swapped for another.  Therefore, if instead of selling your Bitcoin for cash you had exchanged it for 30 ETH, you have still made a disposal, and so could be liable for CGT on the difference between the price you paid for the Bitcoin, and the market value of the ETH received in exchange. 

Do I have to pay tax if I gift or spend a crypto token? 

More broadly, you will be making a disposal whenever you give up your ownership of a token.  For example, if you make a gift to somebody, or spend it, such as to purchase an NFT or to pay for other goods or services.  Each of these scenarios can be subject to CGT. 

Do I have to pay tax on mining or staking? 

If you are receiving tokens through mining on a proof of work blockchain, or staking on a proof of stake blockchain, then you need to consider whether this is subject to income tax. 

The law on this issue is currently not certain, but HMRC’s view is that generally income from mining or staking will be subject to income tax, after deduction of certain allowable expenses. We can provide advice on this topic.

Remittance basis/FIG regime taxpayers – are crypto gains and income subject to UK tax? 

If you were a remittance basis taxpayer in past years, you do not have to pay UK tax on relevant foreign income, or foreign chargeable gains, from that period if such income or gains are not remitted (or brought back) to the UK. If you qualify for the new Foreign Income and Gains (FIG) regime, you do not have to pay UK tax on relevant foreign income, or foreign chargeable gains, while within the FIG regime. However, can a decentralised cryptoasset recorded on a global blockchain be said to be ‘foreign’? 

Again, the law has not yet fully clarified this point.  However, you need to be aware that HMRC has taken a very wide interpretation of the law, based on the residence of the beneficial owner. HMRC’s position means that remittance basis/FIG regime taxpayers are unlikely to escape UK tax on their cryptoasset income and gains, even where tokens are held for them by a foreign exchange or via a wallet held outside the UK. 

If you find yourself in this position, you need to take legal/tax advice, as the position is likely to turn on the precise factual arrangements, as well as the interpretation of the law.  

What to do about your cryptoasset taxes 

If you find yourself having made cryptoasset disposals, then you need to consider your potential CGT or income tax liability and whether this needs to be reported to HMRC.  CGT and income tax are both self-assessment taxes, which means that it is your responsibility to ensure you have reported anything you need to report, whether or not HMRC have already asked you to submit a tax return. 

The calculations are not straightforward.  For one thing, there will be various deductible costs, to reduce your tax liability.  For another, fungible cryptoasset tokens are subject to the share pooling rules, meaning that it is necessary to work out an average cost based on all of your purchases. 

Specialist software is available, which can help with these calculations.  However, you need to understand the legal interpretation of transactions in order to ensure that the software is analysing your tax liability correctly. 

If the result is that you have made a net loss for the year, then you may not need to submit a tax return, but it can still be worth reporting your losses to HMRC to enable them to be deducted against gains you make in the future.

How Quastels can help with cryptoasset taxes 

Ben Rosen, Partner, and Jack Burroughs, Senior Associate, in the Private Wealth and Tax team are leading experts on the legal and tax treatment of cryptoassets.  We can therefore advise you on the issues that might arise in calculating your taxes, including: 

• which transactions are disposals for CGT; 

• how staking and mining income is calculated; and 

• whether gains and income are located in the UK or abroad. 

We can provide the analysis of your cryptoasset gains and income needed to submit your tax return, and state your legal position to HMRC where the law is unclear or where mistakes may have been made. We are also able to assist with your estate planning for cryptoassets, helping to ensure that your tokens can pass to those you want to receive them, as tax-efficiently as possible. 

To discuss your circumstances and find out how we can help you, please get in touch. 

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