Hungarian law enforcement officers cleared the suspicions against Oschadbank’s cash collectors and terminated the criminal proceedings due to the absence of the elements of crime

The National Tax and Customs Administration of Hungary (NAV) has terminated criminal proceedings concerning the transportation of cash and precious metals by Oschadbank employees. Following a comprehensive investigation, Hungarian law enforcement officers established the lawful origin of the banknotes and gold bars and found no elements of crime.

The investigation was initiated on 5 March 2026 on the grounds of a criminal complaint from the Hungarian Constitution Protection Office. Specifically, it concerned the regular transportation of foreign-currency cash and investment gold by Oschadbank’s special-purpose vehicles from Austria to Ukraine via the territory of Hungary.

During an inspection of the cash-in-transit convoy, Hungarian law enforcement officers discovered USD 40 million, EUR 35 million and 9 kg of gold bars in two Oschadbank vehicles.

As part of the investigation, they examined customs declarations and cargo documents, customs inspections results, conducted interrogations and expert analyses, examined the seized electronic devices, verified the vehicles’ routes, and obtained information from other European law enforcement agencies. Separately, European letters of request were sent to Austria and Poland.

The information obtained in result of the investigative measures confirmed that the banknotes and precious metals belonged to Oschadbank and had been acquired as part of separate interbank transactions with Raiffeisen Bank International AG in accordance with a framework agreement between the banks. The investigation found no evidence that the funds or precious metals were of criminal origin.

“It is important to Oschadbank that the Hungarian investigation carried out a full review of the circumstances surrounding the transportation of the valuables, including the origin of the funds and precious metals, the relevant documentation, customs procedures and banking transactions. The findings of this investigation established that the assets were of lawful origin and had been obtained through standard interbank transactions. The criminal proceedings have been terminated due to the absence of the elements of a criminal offence. We welcome this decision and will continue to ensure the highest standards of transparency and compliance with the law in all the bank’s operations,” said Yurii Katsion, Chairman of the Management Board of Oschadbank.

The NAV’s decision states that the information and evidence available in the criminal proceedings confirmed that the banknotes and precious metals did not originate from criminal activity. No evidence of any other criminal offence was found either. Therefore, the proceedings were terminated due to the absence of the elements of a criminal offence as defined by law.