US ‘perfect playground’ for laundering money linked to environmental crimes, new report finds

The report by the Financial Accountability and Corporate Transparency (FACT) Coalition, published on Oct. 26, said that “critical gaps” in the U.S. anti-money laundering system are vulnerable to exploitation by criminal groups, including those behind the destruction of the Amazon, the world’s largest tropical rainforest.

According to FACT, which represents more than 100 international transparency and conservation groups, the prevalence of abuse-prone shell companies and other secretive entities — which allow bad actors to anonymously stash dirty money in the U.S. and invest in real estate — are a key part of the problem.

"Unless the U.S. implements comprehensive reforms, including the weaknesses that are described in the report, it will continue to provide an avenue for criminal actors wanting to abuse our financial system and launder environmental crimes proceeds,” said Ian Gary, the coalition’s executive director.