Most viewed ORX News loss events in Q2 2018
- 24 July 2018
New for 2018, at the end of each quarter, ORX News will publish a summary of the ten most viewed loss events in the ORX News database. The loss events are ranked by number of views, and listed with their business line and event type.
ORX News is an industry-leading provider of publicly reported operational risk loss events. For more information or if you are interested in subscribing, please visit the ORX News homepage.
The most viewed stories on the ORX News site between 1 April 2018 and 30 June 2018:
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Deutsche Bank erroneously transferred EUR 28 billion to an account at Deutsche Boerse’s Eurex clearing house during the week beginning 23 March 2018 when conducting a daily collateral adjustment.
ORX News subscribers can read the story here -
Samsung Securities erroneously paid its employees 2.83 billion shares worth KRW 112.6 trillion (approximately $105bn) rather than a total of KRW 2.83 billion in dividends in a fat finger error.
ORX News subscribers can read the story here -
Deutsche Bank revealed that in March 2014 it erroneously transferred EUR 21 billion to Macquarie as collateral for an over-the-counter derivatives trade. The transfer was the result of human error and the bank recovered the funds within hours.
ORX News subscribers can read the story here -
Citibank was fined $70m by the Office of the Comptroller of the Currency (OCC) for failing to comply with a 2012 consent order for addressing deficiencies in the bank’s AML programme.
ORX News subscribers can read the story here -
Wells Fargo has been jointly fined $1bn by the CFPB and OCC for failures in its administration of auto insurance loan programmes and mortgage rate-lock extensions.
ORX News subscribers can read the story here -
TSB may pay an estimated GBP 20 million in fee waivers and higher interest rates granted to customers as compensation for disruptions to online and mobile banking services following technical problems with the migration of customer data to a new system.
ORX News subscribers can read the story here -
Wells Fargo has been ordered by a California federal court to pay $97.3m to around 4,500 home mortgage consultants and private mortgage bankers who claimed they had been denied meal and rest breaks.
ORX News subscribers can read the story here -
The Reserve Bank of India fined ICICI Bank INR 589 million ($9.1m) for breaching regulatory requirements by selling government bonds in its held-to-maturity (HTM) portfolio before the bonds had matured.
ORX News subscribers can read the story here -
Western Union will pay $651m as part of agreements with the DoJ, FTC, NYDFS and US states over claims it failed to prevent money laundering and wire fraud between 2004 and 2012.
ORX News subscribers can read the story here -
In December 2013 Deutsche Bank was fined $6.5m by FINRA for failing to provide compulsory transparency in financial records and inaccurate calculations.
ORX News subscribers can read the story here