5 largest operational risk losses: April 2021

  • 11 May 2021

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 April 2021.

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The ORX News service works by searching global media outlets for operational risk loss events. Our team of multilingual researchers summarise the stories and classify them with the relevant information such as the sector, business line, event type and scenario category. This means you can easily use the service to enhance your scenario generation process, monitor important risk trends and raise awareness of operational risk events.

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Top 5 op risk losses reported by ORX News in April 2021

1. Koineks Teknolojileri – $2bn

Thodex stops trading as CEO allegedly flees with USD 2 billion in user funds in fraud claims. 

Business Line: BL0501 Cash Clearing
Event Type: EL0102 Internal Theft & Fraud

2. ABN AMRO – $575m

ABN AMRO pays EUR 480 million in fine and disgorgement over AML failings. 

Business Line: BL0301 Retail Banking
Event Type: EL0402 Improper Business or Market Practices

3. JPMorgan Chase & Co. – $18.8m 

JPMorgan to pay up to USD 18.8 million over unpaid interest on mortgage funds held in escrow. 

Business Line: BL0301 Retail Banking
Event Type: EL0401 Suitability, Disclosure & Fiduciary

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4. Bank of America – $15.3m 

Bank of America fined EUR 12.6 million by European Commission for SSA bond trading cartel.

Business Line: BL0202 Global Markets
Event Type: EL0402 Improper Business or Market Practices

5. Credit Suisse – $14.3m

Credit Suisse fined EUR 11.9 million by European Commission over SSA bonds trading cartel. 

Business Line: BL0202 Global Markets
Event Type: EL0402 Improper Business or Market Practices

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The operational risk year to date

Summary of distribution, frequency and severity of ORX News event digests.

Top 5 chart April 2021

Download the ORX News top 5 largest losses

ORX News Monthly Top 5 Stories - April 2021

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ORX News is an industry-leading provider of publicly reported operational risk loss events. Financial firms around the world use the service to monitor operational risk losses and understand trends.

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