Monthly Top 5 ORX News Losses – August 2018

  • 6 September 2018

1.  Zürcher Kantonalbank – $98.5m

Zürcher Kantonalbank to pay USD 98.5 million over allegations it facilitated US tax evasion.

2.  Aegon – $97.6m

Four Transamerica entities settle for USD 97.6 million with SEC over investment model errors.

3.  Citigroup – $86.8m

Citigroup fine and losses over improper trades and mismarking total USD 86.8 million.

4.  Sudostroitelny bank – $44.4m

Sudostroitelny Bank defrauded of RUB 3 billion through loans based on fraudulent documents.

5. Wells Fargo & Company – $30.0m

Wells Fargo pays USD 30 million over nondisclosure of post-payment interest on FHA loans.

The operational risk year to date

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

August top 5

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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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