Oschadbank Accuses Hungary of Falsifying Video Used in Seizure Case

The State Oschadbank of Ukraine has made serious allegations against Hungarian authorities, asserting that they falsified video evidence used in an investigation concerning the confiscation of an armored cash convoy in March of this year.

In a statement released on Wednesday, the bank reported that the video presented by the Hungarian National Tax and Customs Administration (NAV) contained misleading subtitles that were not present in the original audio recording. Oschadbank emphasized that the Hungarian-language subtitles were added later, including the phrase "corruption money," which the bank claims did not appear in the original recording.

"It is on this specifically added phrase that NAV's conclusions regarding the connection of this video to the case of the illegal detention of Oschadbank's funds are based," bank representatives stated.

Oschadbank also noted that the video in question is archival and was recorded on March 10, 2025, near Vienna during a stop caused by a technical malfunction in the vehicle's electrical system. Workers used an external power source to print documents necessary for an international money transfer, which were duly certified by customs authorities in the EU and Ukraine.

The bank highlighted that this confirms the legality of the operation, which was conducted in accordance with an international agreement with Austria's Raiffeisen Bank, after Hungarian authorities confiscated the armored vehicles in Budapest on March 5 while transporting $79 million in cash and gold from Austria to Ukraine.

This situation has sparked widespread resonance, as although seven Ukrainian employees were dismissed the following day and the vehicle was returned a few days later, the financial assets remain under Hungarian control amid an ongoing investigation.

In the context of the ongoing war in Ukraine, which has been ongoing since 2022, such incidents are becoming increasingly common, as countries supporting Ukraine seek to protect their interests and resources. Oschadbank, as one of Ukraine's largest state banks, continues to fight for its rights and the legality of its actions in the international financial arena.