The Hungarian National Tax and Customs Administration (NAV) has closed criminal proceedings against employees of the state-owned Oschadbank for transporting cash and precious metals through the country due to the lack of evidence of a criminal offense, the bank's press service reported.
The investigation concerned the transportation of $40 million, EUR35 million, and 9 kg of gold bars from Austria to Ukraine via Hungary using two Oschadbank cash-in-transit vehicles. Hungarian law enforcement officials established the legal origin of the funds and gold.
The case was opened on March 5, 2026, based on a criminal complaint from the Office for the Protection of the Constitution of Hungary. During the investigation, law enforcement officers reviewed customs declarations and cargo documents, the results of customs inspections and vehicle routes, conducted interrogations and examinations, examined seized electronic devices, and received information from law enforcement agencies in other European countries. Separate investigative requests were sent to Austria and Poland.
The obtained data confirmed that the banknotes and precious metals belonged to Oschadbank and were acquired through separate interbank transactions with Raiffeisen Bank International AG in accordance with a framework agreement between the banks. The investigation found no evidence of criminal origin for the funds or gold.
"Based on the results of this investigation, it was established that the assets were of legitimate origin and were obtained through routine interbank transactions. The criminal proceedings were terminated due to the lack of evidence of a criminal offense," noted Oschadbank CEO Yuriy Katsion.
The NAV decision also stated that the case materials did not confirm any indication of any other criminal offense.
As reported, on March 5, during a special operation by the Hungarian Counter-Terrorism Center (TEK) on the M5 highway, two Oschadbank cash-in-transit vehicles and seven cash-in-transit guards were detained. The guards were later released and returned to Ukraine.
On March 9, Hungarian Ambassador to Ukraine Antal Geyser was summoned to the Ukrainian Ministry of Foreign Affairs and protested the seizure of hostages and valuables.
On March 12, the Hungarian side handed over the cash-in-transit vehicles to Oschadbank representatives and Ukrainian diplomats, while the funds and valuables remained in Hungary.
On May 6, Ukrainian President Volodymyr Zelenskyy announced that Hungary had returned Oschadbank's funds and valuables to Ukraine in full.
