Monthly Top 5 ORX News Losses – March 2019
- 9 April 2019
1. Citigroup, United States – $49m
Citigroup pays USD 49 million in OCC fine and restitution for violating Fair Housing Act.
Business Line: BL0301 Retail Banking
Event Type: EL0401 Suitability, Disclosure & Fiduciary
2. Goldman Sachs Group, United Kingdom – $45.3m
Goldman Sachs fined GBP 34.3 million by FCA for transaction reporting failures.
Business Line: BL0202 Global Markets
Event Type: EL0702 Monitoring & Reporting
3. University Federal Credit Union, United States – $40.5m
CBS Employees Federal Credit Union manager embezzles USD 40.5 million through fake payments.
Business Line: BL0301 Retail Banking
Event Type: EL0102 Internal Theft & Fraud
4. Dixons Carphone, United Kingdom – $39.5m
Carphone Warehouse to pay GBP 30.1 million over mis-selling of mobile phone insurance.
Business Line: BL2201 Property Casualty
Event Type: EL0401 Suitability, Disclosure & Fiduciary
5. UBS, United Kingdom – $36.6m
UBS fined GBP 27.6 million by FCA for transaction reporting failures.
Business Line: BL0202 Global Markets
Event Type: EL0702 Monitoring & Reporting
The operational risk year to date
Summary of distribution, frequency and severity of ORX News event digests.
