Monthly Top 5 ORX News Losses – July 2019
- 7 August 2019
1. Punjab National Bank, India – $555.6m
PNB defrauded of INR 38.05 billion by steel manufacturer who manipulated account books.
Business Line: BL0401 Commercial Banking
Event Type: EL0201 External Theft & Fraud
2. The Abraaj Group, United Arab Emirates – $314.6m
Abraaj Group fined USD 314.6 million for deceiving investors and misappropriating funds.
Business Line: BL0703 Fund Management
Event Type: EL0402 Improper Business or Market Practices
3. Allahabad Bank, India – $258.9m
Allahabad Bank defrauded of INR 17.75 billion by manufacturer who manipulated account books.
Business Line: BL0401 Commercial Banking
Event Type: EL0201 External Theft & Fraud
4. Deutsche Bank, Netherlands – $197.1m
Deutsche Bank pays EUR 175 million to settle bribery allegations over derivatives trades.
Business Line: BL0401 Commercial Banking
Event Type: EL0402 Improper Business or Market Practices
5. Capital One, United States – $150.0m
Capital One suffers data breach in which hacker steals information of 106 million individuals.
Business Line: BL0302 Card Services
Event Type: EL0202 System Security External – Wilful Damage
The operational risk year to date
Summary of distribution, frequency and severity of ORX News event digests.
