Hungary's NAV has falsified a video released as evidence to support its false allegations against Oschadbank

Earlier today, April 8, 2026, the Hungarian National Tax and Customs Administration (NAV) published a statement on the progress of its “investigation” into the illegal detention of Oschadbank’s funds and valuables, which were unlawfully seized in Hungary in early March.

In its statement, NAV confirms that the banknotes transported by Oschadbank are fresh, recently printed, and have not yet been in circulation. This fully aligns with Oschadbank’s lawful activity to supply cash currency to Ukraine in accordance with an international agreement with Raiffeisen Bank (Austria).

The NAV also included a link in its statement to a video that was likely obtained from the mobile phone of one of the cash-in-transit couriers detained in Hungary.

According to the NAV's statement, the detained Ukrainian citizens are being treated as witnesses. At the same time, the investigating authority has failed to respond to numerous requests regarding the lawful basis for the seizure of the employees' belongings, specifically the mobile phone of one of the cash-in-transit couriers, as well as regarding access to the information contained therein, for almost a month since the detention.

Under these circumstances, the Bank considers the seizure of the mobile phone, its subsequent withholding, and access to its contents to be unlawful. Therefore, releasing the video obtained from this device was unlawful as well.

Oschadbank publicly declares that the released video has been falsified. The video includes audio of a conversation among members of the cash-in-transit team. To make it understandable for the Hungarian audience, Hungarian subtitles were added, including the phrase “corruption funds, which does not appear in the audio track. The NAV’s findings regarding the connection between this video and the case of the unlawful seizure of Oschadbank’s funds rely on this phrase, which was intentionally added.

Here are the facts regarding the released video:

• The video is archival; it was recorded on March 10, 2025 - a year ago - nearby Vienna;
• The necessity to print out a bundle of documents underway is standard practice, as the team departs before our counterparty has prepared the funds;
• All cash-in-transit vehicles are equipped with a mobile office, which includes a laptop and a printer for document printing. To power the mobile office, the vehicle is equipped with Starlink and an inverter;
• During this very trip, on March 10, 2025, the inverter malfunctioned while the vehicle was already en route. As a result, the team had to access the power grid in the parking lot to print out the documents;
• The printed document package for cargo pickup consisted of a CMR, packing list, invoice, and waybill. The team lead's signature on the documents was certified with a seal;
• All of the aforementioned processes were duly documented and recorded in the customs system of the consignor (the European Union) and the customs authorities of Ukraine. The original documents shown in the video are available and bear the relevant stamps of the customs authorities of Hungary and Ukraine;
• The parking lot was selected for access to the power grid due to the fact that the cash-in-transit team does not stay in hotels while travelling short-distance routes (lasting three days); the vehicles are equipped with portable beds for overnight rest.

Oschadbank requests the immediate recovery of all assets unlawfully seized and reserves its right to take legal action against the dissemination of false information.

We note that Oschadbank has already engaged a leading international auditing firm to verify the compliance of the contractual framework and all procedures for the transportation of cash funds and valuables.

Attachments:

• link to a video with subtitles, edited by NAV with lower sound quality:

https://youtube.com/shorts/YQE9y-RSgb8?si=nO8Iw6aIXQaH764S

• link to a copy of the video from another mobile phone that has not been edited

https://youtube.com/shorts/7LqZ6lnGty0?si=w49FAp1cf7QOSyPo  

• comparison of the actual video transcript and the falsified subtitles: