As crime becomes increasingly international and has the potential to move even more online (including into the Metaverse), organisations like INTERPOL are critical to tackling new criminal threats.
In November 2022, Gherson's criminal litigation, investigations and regulation team described how INTERPOL had announced the creation of an Expert Group on the Metaverse in a blog titled Crypto and INTERPOL Part 2 – INTERPOL enters the Metaverse. This followed INTERPOL announcing the unveiling of the first ever Metaverse specifically designed for law enforcement worldwide.
This was previous to Gherson's criminal litigation, investigations and regulation team writing about how INTERPOL had developed a specialist cryptoasset team to coordinate globally against digital asset crime.
As technology breaks down the barriers and crime increasingly moves online as we move into a more-digital world, law enforcement will need to keep up. An organisation with expansive reach and connections such as INTERPOL is well-suited to face the changes in crime brought about by technological developments.
Policing crime in the Metaverse
Subsequent to the creation of an Expert Group on the Metaverse, INTERPOL has now started looking into how crime in the Metaverse could be investigated.
The BBC reports that in order to do this, INTERPOL have built their own virtual reality (VR) space and also notes that it is important for such organisations not to be left behind.
What are the benefits to INTERPOL of experiencing the Metaverse?
INTERPOL notes that the Metaverse brings benefits to law enforcement for remote working, networking, collecting and preserving evidence and delivering training.
The report concludes that "The Metaverse has the potential to transform every aspect of our daily lives with enormous implications for law enforcement....in order for police to understand the Metaverse, we need to experience it".
Suitability of INTERPOL
We have previously discussed how given the decentralised and borderless nature of some cryptoasset transactions, an organisation with global reach like INTERPOL would lend itself very well to assist coordinating the steps required to assist both pursuing individuals alleged to have been involved with criminal offences involving crypto, and also tracing any associated proceeds of crime.
Indeed, as technological advancements increase and crime moves into the Metaverse, INTERPOL is sensibly ensuring that it is prepared to face the new challenges that will arise.
As Jurgen Stock, INTERPOL's Secretary General noted, "Huge developments in technology, internet of everything and digitalization – because of cryptocurrency – pose a challenge to law enforcement, because, very often, they (agencies) are not properly trained and properly equipped from the beginning".
Compared to the Metaverse, crypto is just the tip of the iceburg.
As always, there would be a need to ensure that INTERPOL was always used in compliance with all its applicable rules and regulations. The applicability of these rules and regulations as we enter a virtual world will need to be kept carefully under review.
In conclusion, the BBC also reports that Jurgen Stock has now additionally said, "This is why Interpol is so important, because only national cyber-crime does not exist – almost all of the cases have an international dimension. This makes the role of Interpol, almost 100 years after its creation, so critical in today's world, because no country can fight these types of crimes in isolation. This is what Interpol is about with 195 member countries, they are all needed to tackle that type of crime".
INTERPOL, Red Notices, crypto and now the Metaverse
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. This 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):
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
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.
Originally published by 23 February, 2023
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.