Kleptocracy Weekly: May 8-12

The latest on KI’s website: Hungary’s descent into cronyism under Victor Orban.

U.S.

China

  • In a Beijing ballroom, the Kushner family pushed a $500,000 ‘investor visa’ to wealthy Chinese–the tagline on a brochure for the event: “Invest $500,000 and immigrate to the United States.
  • The increased risk of regulatory enforcement, including anti-money laundering enforcement actions, has pushed Western banks to cut back on so-called correspondent banking relationships, in which they rely on foreign institutions to handle transactions on their behalf, leaving room for banks in the East–particularly in China–to fill in the gap.

Europe