Monthly Top 5 ORX News Losses – April 2018
- 14 May 2018
1. Wells Fargo & Company – $1bn
Wells Fargo fined USD 1 billion for auto insurance and mortgage malpractice and risk management deficiencies.
2. Vnesheconombank – $117.2m
Former senior Vnesheconombank manager arrested over misappropriation of USD 117.2 million.
3. UCO Bank – $95.2m
UCO Bank defrauded of INR 6.21 billion by former executive and others in loans obtained with fabricated business data.
4. IDBI Bank – $89.6m
IDBI Bank defrauded of INR 6 billion by senior bank officials in loans issued to companies.
5. Banco de Sabadell – $28m
Account migration disruption may cost TSB GBP 20 million in waived fees and interest payments.
The operational risk year to date
Summary of distribution, frequency and severity of ORX News event digests.