Private equity funds have become the primary tool for wealth concealment and siphoning off public funds in Hungary, while neither the operation of these funds nor state capital investments are transparent — as revealed in a recent study by Transparency International (TI) Hungary. Hungary's anti-money laundering regulations violate EU law, as they do not include provisions for recording the actual owners of private equity funds. Consequentially, the European Commission initiated infringement proceedings against Hungary in July 2024. EU launches proceedings: Orbán’s government can no longer hide how much the private equity funds of NER billionaires have received