The episode title, "Masking", in Cameron Black's words " Masking. It's one of the fundamental principles of magic. You hide something in plain sight, simply by creating a better show." In other words a distraction, misdirection.
The statue which the team converged upon is known as the Atlas statue, and it faces St Patrick's Cathedral. The placement of the statue is suppose to be a subtle study in contrast between the secular and the divine, and the statue is allegedly framed to line up with the doorway of the Church. Also, the statue is a nod to Greek Mythology, Atlas is holding up the world.
An Interpol (International Criminal Police Organization, or ICPO), Red Notice is issued when there is a warrant for someone's arrest.