Monthly Top 5 ORX News Losses – April 2019

  • 10 May 2019

1.   Yugra Bank, Russian Federation – $117.2m

At least three former Yugra Bank executives allegedly embezzle RUB 7.5 billion.

Business Line: BL0401 Commercial Banking

Event Type: EL0102 Internal Theft & Fraud

2.  Nordea, Denmark – $106.1m

Nordea provisions EUR 95 million to cover potential AML-related fine.

Business Line: BL0401 Commercial Banking

Event Type: EL0402 Improper Business or Market Practices

3.  Wells Fargo & Company, United States – $68m

Wells Fargo defrauded of USD 68 million in loan fraudulently obtained by farmer.

Business Line: BL0401 Commercial Banking

Event Type: EL0201 External Theft & Fraud

4.  Rossiya Joint-Stock Insurance Company, Russian Federarion – $51.4m

Bank Eurocommerce chairman allegedly embezzles RUB 3.3 billion through fraudulent share deals.

Business Line: BL0401 Commercial Banking

Event Type: EL0102 Internal Theft & Fraud

5.  Agrani Bank, Bangladesh – $30.4m

Agrani Bank defrauded of BDT 2.59 billion in commercial loan scheme.

Business Line: BL0401 Commercial Banking

Event Type: EL0102 Internal Theft & Fraud

The operational risk year to date

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

Top 5 April 2019

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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.

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