Peru's forests, crucial for global sustainability, face severe threats from illegal logging driven by high global demand for timber. Between 2001 and 2018, deforestation rates soared, with illegal logging being a significant contributor. This case study focuses on the financial crimes associated with this deforestation, particularly trade mis-invoicing, which facilitates tax evasion, fraud, and money laundering. A Trade Discrepancy Analysis (TDA) revealed substantial discrepancies in trade data between Peru and its major trading partners, including the USA, China, Mexico, and the Dominican Republic, from 2009 to 2018. For instance, discrepancies with the USA averaged at US$1.5 million per year, peaking in 2013. These discrepancies often indicated under-invoicing by Peruvian exporters to conceal profits and evade taxes, and over-invoicing by importers to shift money illicitly. The analysis also highlighted the lack of stringent auditing and regulatory oversight, which allows such discrepancies to persist and exacerbate deforestation without adequate legal repercussions. This case underscores the urgent need for enhanced inter-institutional cooperation and stricter auditing to curb illegal timber trade and protect Peru's forests.