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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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
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.
