The National Tax and Customs Administration of Hungary has closed its criminal investigation into employees of Ukraine's state-owned Oschadbank, finding no evidence of wrongdoing in a high-value cash transit operation across Hungarian territory. The press service of Oschadbank announced the decision, stating that Hungarian law enforcement confirmed the lawful origin of seized banknotes and gold bars.
The Hungarian tax agency, known locally as NAV, concluded that the funds did not originate from criminal activity and that no other criminal offense occurred. Authorities officially terminated the proceedings due to the absence of any legal grounds for prosecution under Hungarian law.
The case began on March 5, 2026, following a criminal complaint lodged by Hungary's Constitution Protection Office regarding the regular transport of foreign currency and investment gold from Austria to Ukraine. During an inspection of a two-vehicle Oschadbank convoy transiting Hungary, law enforcement officers seized 40 million US dollars, 35 million euros, and nine kilograms of gold bars. Seven Ukrainian citizens operating the armored vehicles were detained during the operation as part of regular cooperation between state banking institutions.
Interbank transaction agreement
Investigative findings later confirmed that the cash and precious metals belonged to Oschadbank. The assets were acquired through individual interbank transactions with Vienna-based Raiffeisen Bank International under a framework agreement between the banks. Law enforcement found no evidence of criminal origin for the funds or metals.
The Hungarian government had claimed the detention of the Ukrainian cash collectors and the seizure of the assets were carried out as part of a money laundering investigation. However, Hungarian media outlets reported that the real reason for the detention was Ukraine's refusal to use cash transit services provided by a company linked to a friend of Viktor Orbán.
Return of assets and internal investigation
On May 6, Hungary returned all of the funds, gold bars, and valuables seized from Oschadbank during the operation. Oschadbank is one of Ukraine's major state banks, routinely transporting currency between European institutions.
In June, Hungarian Prime Minister Péter Magyar instructed officials to conduct an immediate internal investigation into the illegal detention of the Ukrainian Oschadbank cash collectors.
