Environmental crime money easy to stash in US due to loopholes, report finds

Secrecy and lax oversight mean illegal loggers and miners in Amazon can park billions in real estate and other assets

Secrecy and lax oversight have made the US a hiding place for dirty money accrued by environmental criminals in the Amazon rainforest, a report says.

Illegal loggers and miners are parking sums ranging from millions to billions of dollars in US real estate and other assets, says the report, which calls on Congress and the White House to close loopholes in financial regulations that it says are contributing to the destruction of the world’s biggest tropical forest.