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.
