The growing use of cryptocurrencies to launder drug money has caught the attention of the United Nations. Thus, a specialized agency of the United Nations was alarmed Thursday, considering further that illicit financial flows threaten the development of several African countries.

Mexican and Colombian cartels are increasingly using cryptocurrencies to launder drug money. "Mexican cartels are estimated to launder some $25 billion a year," the International Narcotics Control Board said in a report presented in Vienna and Mexico City.

The United Nations agency is also concerned about the importance of illicit financial flows in Africa, the cost of which "is exceptionally high and has detrimental consequences for the development of many countries". Africa loses "88.6 billion dollars, which represents approximately 3.7% of the continent's GDP, each year due to illicit financial flows", according to the UN.