Crossword Genius

Wasted no time collecting the loot? (10)

Ross

I believe the answer is:

ransacking

I'm a little stuck... Click here to teach me more about this clue!

'wasted no time collecting' is the definition.
The definition and answer can be both acts as well as being singular nouns.
Perhaps they are linked in a way I don't understand?

'loot?' is the wordplay.
I cannot really see how this works, but
'loot?' could be 'ransack' (I've seen this in another clue) and 'ransack' is located in the answer.
This explanation may well be incorrect...

'the' is the link.

Can you help me to learn more?

I've seen this clue in The Guardian and The Globe and Mail.
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