Monthly Top 5 ORX News Losses – December 2019

  • 23 January 2020

Read on to find out the five largest operational risk events reported by ORX News in December 2019.

ORX News is a leading news provider for operational risk losses. The ORX News team searches global media outlets for loss events, summarising the stories and classifying them with the relevant sector, business line and event type.

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ORX News top five op risk losses December 2019

1. Pay100 – $468.0m

Pay100 founder defrauds 5,000 investors of USD 468 million through bitcoin Ponzi scheme.

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

2. Julius Baer Group – $154.6 m

Julius Baer ordered to pay CHF 153 million over demands to recover missing East German assets.

Business Line: BL0901 Private Banking
Event Type: EL0402 Improper Business or Market Practices

3. BPCE – $92.9m

Natixis Intertitres fined EUR 83.3 million by competition agency over meal-voucher cartel.

Business Line: BL0401 Commercial Banking
Event Type: EL0402 Improper Business or Market Practices

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4. Barclays Bank – $87.0m

Barclays pays USD 87 million to settle Fannie Mae and Freddie Mac bond price rigging claims.

Business Line: BL0102 Municipal / Government Finance
Event Type: EL0402 Improper Business or Market Practices

5. Nevsky Bank – $47.6m

Nevsky Bank loses RUB 3 billion in cash and securities through theft by unidentified persons.

Business Line: BL0301 Retail Banking
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.

ORX News, The operational risk year to date, December 2019

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ORX News monthly top 5 stories - December 2019

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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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