Hungary closed case against Ukrainian Oschadbank cash collectors

The General Directorate of Criminal Investigations of the Hungarian National Tax and Customs Administration (NAV) has terminated criminal proceedings against Ukrainian Oschadbank cash collectors, who were detained in March on suspicion of money laundering. The basis was the absence of any criminal offence.

The decision was reported on August 19 by Lorant Horvath, a Hungarian lawyer representing Oschadbank's interests. According to the NAV rationale he cited, the investigation established the lawful origin of the cash and gold found in the cash-in-transit vehicles.

The investigation materials established that the cash and precious metal were connected to an interbank transaction between Austria's Raiffeisen Bank International AG and Ukraine's state-owned Oschadbank. Raiffeisen provided documents confirming the origin of the banknotes and precious metals sold and transported, as well as payment of their value by Oschadbank.

The investigation concluded that the money and gold were not obtained criminally. There were no doubts left among investigators about the lawfulness of the origin and source of the assets. According to the lawyer, NAV also found no signs of any other crime in the context of these proceedings.

Investigation had earlier been suspended pending response from Austria

As early as July 9, NAV officially announced that it had practically completed all possible investigation actions in Hungary, and the data obtained did not confirm that a crime had been committed. The case was not closed at that time only because the Hungarian side was awaiting a response from Austrian law enforcement authorities to a request for legal assistance.

The Hungarian service explained that the investigation was launched after the Hungarian Constitutional Protection Office reported the supposedly unknown origin of the transported cash and gold. A European investigation request to Austria was sent as early as April to verify their origin.

Now, the documents obtained made it possible to definitively establish the origin of the assets and close the proceedings on suspicion of money laundering.

What happened to Oschadbank’s cash collectors

On March 5, 2026, two armoured Oschadbank vehicles travelling from Vienna to Ukraine were stopped in Hungary. Seven Ukrainian cash collection employees were detained along with the vehicles. The vehicles carried 40 million dollars, 35 million euros and 9 kg of bank gold.

From the outset, Oschadbank stated that this was a regular interbank transport between Raiffeisen Bank Austria and the Ukrainian bank. According to the bank, the cargo was documentation in accordance with international transport rules and European customs procedures, and Oschadbank held the necessary licence for international transport of valuables.

The cash-in-transit vehicles were returned to the bank on March 12. The 40 million dollars, 35 million euros and 9 kg of gold themselves remained in Hungary for almost two more months and were returned to Oschadbank on May 6.

Separate investigation into the detention continues

The closure of the money laundering case does not mean the termination of all proceedings related to the March operation. The Hungarian prosecutor's office is separately investigating the circumstances of the detention of the seven Ukrainian citizens.

On June 29, Hungary's Central Chief of Investigation Prosecution Office announced a suspicion against Janos Hajdu, former head of the Counter-Terrorism Centre (TEK). The investigation suspect him of seven counts of unlawful deprivation of freedom with cruel treatment. According to the prosecution's version, after detention, the Ukrainians remained restricted in their freedom, although NAV questioned them as witnesses and did not retain them as suspects. Hajdu pleaded not guilty and appealed against the suspicion.

Thus, the investigation directly against the Ukrainian cash collectors on suspicion of money laundering is completed: Hungarian investigators confirmed the lawful origin of the transported funds and gold. At the same time, a separate case regarding the actions of law enforcement personnel during the detention remains independent proceedings.

Based on: Lorant Horvath, NAV, Oschadbank