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.