Top 5 ORX News Losses: Q1 2020

  • 18 February 2020

Do you know which op risk loss events have had the most impact recently? Read on for the 5 largest operational risk losses reported by ORX News in Q1 2020.

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March

1. Swedbank – $397.2m

Swedbank fined SEK 4 billion by FI for AML failures in its Baltic operations.

2. ABN AMRO – $338.4m

ABN AMRO pays Italian tax agency up to EUR 300 million over alleged cum-ex trading by Fortis. 

3. Standard Chartered – $25.4m

Standard Chartered fined GBP 20.5 million by UK regulator for breaching EU's Russia sanctions.

4. Australia and New Zealand Banking Group – $22.1m

ANZ to pay customers NZD 35.4 million over loan calculator error.

5. Assicurazioni Generali – $11.2m

Generali Vie fined EUR 10 million by ACPR for contractual and accounting failures.

ORX News Monthly Top 5 Stories - March 2020

February

1. EquiAlt – $170.0m

EquiAlt defrauds real estate investors of USD 170 million in fraudulent securities offerings.

2. BNP Paribas – $165.3m

BNP Paribas ordered to pay up to EUR 152.2 million for deceptively marketing complex loan. 

3. Maybank – $118.0m

Maybank faces potential USD 118 million loss in alleged loan fraud by Agritrade.

4. ING – $100.0m

ING faces loss of up to USD 100 million in alleged loan fraud by Agritrade.

5. MUFG – $77.3m

MUFG faces potential USD 77.3 million loss in alleged loan fraud by Agritrade.

Download February's Top 5

January 

1. VTB – $535.0m

VTB loses USD 535 million in alleged Mozambique loan fraud scheme.

2. Bank of India – $106.4m

Bank of India defrauded of INR 7.56 billion in commercial loan fraud.

3. Central Bank of Suriname – $100.0m

Central Bank of Suriname loses USD 100 million of currency reserves in alleged embezzlement.

4. Citadel Securities – $97.7m

Citadel Securities agrees to pay CNY 670 million to settle CSRC allegations of trading rule violations.

5. Wells Fargo – $47.6m

Wells Fargo to pay USD 79 million after it wrongly withheld deferred compensation payments.

Download January's Top 5

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