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.
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.
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.
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.