Monthly Top 5 ORX News Losses – February 2019
- 12 March 2019
1. QuadrigaCX, Canada – $137m
QuadrigaCX CEO’s death renders CAD 180 million in customer cryptocurrency funds inaccessible.
Business Line: BL0501 Cash Clearing
Event Type: EL0401 Suitability, Disclosure & Fiduciary
2. Standard Chartered, United Kingdom – $133.3m
Standard Chartered provisions GBP 102.2 million over deficiencies in financial crime controls.
Business Line: BL0901 Private Banking
Event Type: EL0402 Improper Business or Market Practices
3. Bank Khreschatyk, Ukraine – $82.9m
Bank Khreschatyk defrauded of UAH 2.3 billion through fraudulent security investments.
Business Line: BL0203 Corporate Investments
Event Type: EL0102 Internal Theft & Fraud
4. Evison Holdings, Russian Federation – $37.5m
Vostochny Bank allegedly defrauded of RUB 2.5 billion through fraudulent share deal.
Business Line: BL0401 Commercial Banking
Event Type: EL0102 Internal Theft & Fraud
5. Stella-Bank, Russian Federation – $30.5m
Stella-Bank owner embezzles RUB 2 billion through fraudulent loans and inflated interest.
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.
