NBU Launches Independent Audit of Cash Transport Procedures

The audit was announced by NBU Governor Andrii Pyshnyi in response to a recent incident where seven employees of Oschadbank were detained by Hungarian authorities. These employees were transporting cash between state banks as part of regular operations when the Hungarian tax service intervened, prompting accusations of money laundering against the bank.

Pyshnyi emphasized that Oschadbank employees operated under legal frameworks and maintained compliance with international agreements. He stated, "Oschadbank did not violate the law, and its employees performed their work within the framework of international agreements." Following this incident, which resulted in a temporary detainment of the Ukrainian citizens, Pyshnyi confirmed that all necessary documentation regarding the legitimacy of the cash transport was submitted to the NBU and had been thoroughly checked with no issues found.

The NBU is coordinating efforts with European partners to ensure the investigation is thorough and transparent. This includes preparing appeals to high-level officials within the European Central Bank and other pertinent European financial institutions.

Pyshnyi's call for an independent audit aims to clarify contractual relations and operational processes among all parties involved in the cash transport. The specific international company selected to conduct the audit will be announced later.

This initiative reflects an urgent need for accountability and transparency in the wake of the incident, where allegations of illegal detainment and property theft have emerged. The Hungarian spokesman confirmed that the detained individuals would face deportation, yet Ukraine’s Foreign Minister Andrii Sybiha condemned Hungary's actions as violations of international law.

The Ukrainian Ministry of Foreign Affairs has issued recommendations against travel to Hungary due to the recent hostage situation involving Oschadbank employees. In light of these events, the NBU’s proactive stance in ensuring lawful operations and protecting the integrity of financial transactions between nations is significant.

As Ukraine navigates diplomatic relations amid ongoing challenges, establishing robust frameworks for cash transport will be crucial for both economic stability and international cooperation.