5 largest operational risk losses: February 2020

  • 11 March 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 January 2020.

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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 February 2020

1. EquiAlt – $170.0m

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

Business Line: BL0801 Retail Brokerage
Event Line: EL0102 Internal Theft & Fraud

2. BNP Paribas – $165.3m

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

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

3. Maybank – $118.0m

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

Business Line: BL0401 Commercial Banking
Event Type: EL0201 External Theft & Fraud

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4. ING – $100.0m

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

Business Line: BL0401 Commercial Banking
Event Type: EL0201 External Theft & Fraud

5. MUFG – $77.3m

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

Business Line: BL0401 Commercial Banking
Event Type: EL0201 External Theft & Fraud

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The operational risk year to date

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

ORX News top 5 chart - Feb 2020

Download the ORX News top 5 largest losses

ORX News Monthly Top 5 Stories - February 2020

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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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