In Running Scared (2005), The Scene where Detective Rydell show his badge to Anzor, then this effect is used on his badge:
What is this shining look like effect called?
This effect is Twitch Effect, it can be achieved in softwares like Sony Vegas etc.
It doesn't come across well in your image but this is a stroboscopic effect.
It's not clear why it's being used here other than to heighten the tension of seeing the badge on Anzor although it might be a play on "flashing a badge".