5 largest operational risk losses: December 2021

  • 12 January 2022

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 December 2021.

Never miss a loss event with ORX News

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.

See how you could benefit from an ORX News subscription

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

1. Royal Bank of Scotland – $357.4m

NatWest Group fined GBP 269.5 million by FCA for AML failures.

Business Line: BL0401 Commercial Banking
Event Type: EL0702 Monitoring & Reporting

2. JPMorgan Chase & Co. – $200m

JPMorgan to pay USD 200 million for failing to retain staff WhatsApp, text and email messages. 

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

3. HSBC – $197.4m 

HSBC fined EUR 174.3 million by EC for participating in FX spot trading cartel.

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

Book an ORX News demo

Arrange a demo

4. BitMart – $196m 

BitMart suffers hack through theft of private key leading to losses of around USD 196 million. 

Business Line: BL0501 Cash Clearing
Event Type: EL0201 External Theft & Fraud

5. Santander Group – $174.9m

Santander erroneously pays GBP 130 million to UK customer and business accounts.

Business Line: BL0501 Cash Clearing
Event Type: EL0701 Transaction Capture, Execution & Maintenance

Stay ahead of the curve with ORX News

ORX News is a vital tool for raising awareness of the current risk landscape, helping you to identify the latest threats and the biggest operational risk challenges.

Book a demo today to find out how ORX News can support risk management at your firm

The operational risk year to date

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

Top 5 chart December 2021

Download the ORX News top 5 largest losses

ORX News Monthly Top 5 Stories - December 2021

Subscribe to ORX News

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.

I want to know more about ORX News