Monthly Top 5 ORX News Losses – March 2018

  • 9 April 2018

1. Anbang Insurance – $11.9bn

Former Anbang Insurance chairman embezzles CNY 75.25 billion in illegally-raised funds and insurance premium income.

2. Union Bank of India – $48m

Union Bank of India allegedly defrauded of INR 3.14 billion in loan fraud scheme involving eight banks.

3. Bank of America – $42m

Bank of America fined USD 42 million over various fraudulent practices relating to its electronic trading services.

4. Bank of New York Mellon – $35m

BNY Mellon reaches settlement in concession fees valued at USD 35 million over alleged mismanagement of trust assets.

5. State Bank of India – $32.9m

State Bank of India defrauded of INR 2.15 billion in commercial loans made by consortium of banks.

The operational risk year to date

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

March 2018

Download March's Top 5

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.

ORX News is an industry-leading provider of publicly reported operational risk loss events.

Find out more about the service