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    Global Banking & Finance Review® is a leading financial portal and online magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management.
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    Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    Headlines

    Posted By Global Banking and Finance Review

    Posted on June 26, 2025

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    VIENNA (Reuters) -The global cocaine trade keeps setting new records, with cocaine the world's fastest-growing illicit drug market as Colombia production surges along with users in Europe and North and South America, a United Nations report published on Thursday said.

    The annual U.N. Office on Drugs and Crime's (UNODC) World Drug Report showed that in 2023, the latest year for which comprehensive data was available, the cocaine trade went from strength to strength.

    "Production, seizures, and use of cocaine all hit new highs in 2023, making cocaine the world's fastest-growing illicit drug market," the Vienna-based UNODC said in a statement.

    On the supply side, global estimated illegal production of cocaine rose by around a third to a record of more than 3,708 tons, mainly because of an increase in the area devoted to illicit coca bush cultivation in Colombia and updated data that showed the yield there was roughly 50% higher than in 2022.

    The estimated number of cocaine users globally also kept growing, reaching 25 million people in 2023, up from 17 million 10 years earlier, the UNODC said.

    "North America, Western and Central Europe and South America continue to constitute the largest markets for cocaine, on the basis of the number of people who used drugs in the past year and on data derived from wastewater analysis," it said.

    The synthetic drug market also continues to expand, helped by low operational costs and reduced risk of detection for those making or smuggling the drugs, the UNODC said.

    The leading drugs there were amphetamine-type stimulants (ATS) like methamphetamine and amphetamine.

    "Seizures of ATS reached a record high in 2023 and accounted for almost half of all global seizures of synthetic drugs, followed by synthetic opioids, including fentanyl," the UNODC said.

    (Reporting by Francois Murphy; Editing by Leslie Adler)

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