According to a report by the Financial Accountability and Corporate Transparency (FACT) Coalition, at least 86% of gold produced in Venezuela is illegal, with military elites and transnational gangs controlling the operations. In 2021, the illegal gold mining sector was valued at over $4.4 billion, with approximately 70% of the gold smuggled and laundered internationally. The report outlines significant socioenvironmental impacts on Indigenous communities, including mercury poisoning and deforestation. It calls for U.S. policy reforms to tighten oversight and close loopholes that allow these illegal activities to flourish. The authors argue that a militaristic approach to combat illegal mining is ineffective and propose using anti-money laundering tools to disrupt the financial networks of criminal organizations. The report also highlights the extensive state involvement in Venezuela's illegal gold economy, exacerbating the crisis.