http://www.iht.com/articles/reuters/2009/01/25/europe/OUKWD-UK-FINANCIAL-UN-DRUGS.php
VIENNA: The United Nations'
crime and drug watchdog has indications that money made in illicit
drug trade has been used to keep banks afloat in the global
financial crisis, its head was quoted as saying on Sunday.
Vienna-based UNODC Executive Director Antonio Maria Costa said
in an interview released by Austrian weekly Profil that drug money
often became the only available capital when the crisis spiralled
out of control last year.
"In many instances, drug money is currently the only liquid
investment capital," Costa was quoted as saying by Profil. "In the
second half of 2008, liquidity was the banking system's main
problem and hence liquid capital became an
important factor."
The United Nations Office on Drugs and Crime had found evidence
that "interbank loans were funded by money that originated from
drug trade and other illegal activities," Costa was quoted as
saying. There were "signs that some banks were rescued in
that way."
Profil said Costa declined to identify countries or banks which
may have received drug money and gave no indication how much cash
might be involved. He only said Austria was not on top of his list,
Profil said.