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.

April 2018

Download April's Top 5

ORX News top five

Each month, the ORX News team publish a round-up of the five largest operational risk loss events recorded in the ORX News database.

ORX News is an industry-leading provider of publicly reported operational risk loss events.

Find out more about the service