Oschadbank Accuses Hungary's NAV of Video Fabrication

Oschadbank, a prominent state-owned bank in Ukraine, has made serious allegations against Hungary's National Tax and Customs Administration (NAV), claiming that NAV has falsified a video that was released as evidence in an ongoing investigation regarding the illegal detention of the bank's assets in Hungary. This announcement was made public on the bank's official website, where it elaborated on its arguments and concerns.

In its statement, Oschadbank emphasized that the video presented by the Hungarian authorities contains Hungarian subtitles that have been superimposed, as well as an added audio phrase stating 'corrupt money.' This phrase has become the basis for the conclusions drawn by NAV. 'Oschadbank officially states that the published video has been fabricated,' the bank's message, released on Wednesday, asserts.

According to Oschadbank, NAV has confirmed that the banknotes being transported by Oschadbank were new, recently printed, and had not been in circulation. The bank believes this aligns with its legitimate operations of supplying cash currency to Ukraine under an international agreement with Raiffeisen Bank Austria.

NAV's statement also included a link to the video, which is believed to have been obtained from the mobile phone of one of the cash-in-transit officers detained in Hungary. Oschadbank points out that the detained Ukrainian citizens hold witness status in this case. However, despite numerous requests from the bank, the investigative body has not provided any response regarding the legal grounds for the detention of the employees' property, including the mobile phone of one of the cash-in-transit officers, nor access to the information contained on it.

Oschadbank contends that the seizure of the mobile phone, its continued detention, and access to its contents were illegal. The bank also considers the publication of the video obtained from this device to be unlawful. According to the bank, this video is archival and was recorded on March 10, 2025, near Vienna. It captures the printing of documents on the road, which is a common practice for cash-in-transit teams. During that trip, the cash-in-transit team had to use access to the power grid at a parking lot due to an inverter malfunction in their vehicle.

'All processes depicted in the video were properly documented, entered into the customs authorities' systems of the European Union and Ukraine, and the original documents with the appropriate stamps from the customs authorities of Hungary and Ukraine are available,' Oschadbank added.

The bank is demanding the return of the assets seized in Hungary and has expressed its readiness to take legal action due to the dissemination of misinformation. The financial institution has also engaged an international auditing firm to verify the compliance of the contractual framework and procedures for transporting cash currency and valuables.

It is important to note that on March 5, 2026, two cash-in-transit vehicles belonging to Oschadbank, carrying $40 million, €35 million, and 9 kg of banking gold, were detained in Hungary while conducting a routine transport of foreign currency and banking metals under an international agreement between Oschadbank and Raiffeisen Bank Austria. Following this incident, NAV announced a criminal investigation on suspicion of money laundering.