Report: United States Now a Destination Spot for Laundering Proceeds of Environmental Crime

A new report from the Financial Accountability and Corporate Transparency (FACT) Coalition reveals that the United States has become a destination for the proceeds of environmental crimes due primarily to the prevalence of abuse-prone shell companies and other secretive entities allowing bad actors to anonymously stash dirty money in the country and invest in real estate, Scilla Alecci and Brenda Medina report for ICIJ.

The report said that the U.S. “has a crucial role to play in denying financial safe haven to criminals that would degrade the Amazon” and calls for the U.S. to implement its long-awaited database of company owners and to ensure foreign law enforcement is able to access the database when investigating environmental crimes. According to Interpol, illegal proceeds from environmental crimes, including illegal logging and mining, amount to $281 billion a year, and are often linked to corruption.

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