Monthly Top 5 ORX News Losses – May 2018
- 12 June 2018
1. Wells Fargo & Company – $97.3m
Wells Fargo to pay USD 97.3 million to employees in class action over denied rest breaks.
2. El Bank – $35.8m
El Bank allegedly defrauded of around RUB 2.2 billion in loans fraudulently issued to shell companies by bank executives.
3. Société Générale – $26.9m
Société Générale to pay EUR 22.9 million in compensation to Helaba over cum-ex trades tax payment.
4. LPL Financial Holdings – $25.9m
LPL Financial reaches USD 25.9 million settlement with state securities regulators over sales of unregistered securities.
5. National Bank of Pakistan – $25.8m
National Bank of Pakistan executives arrested over PKR 3 billion letters of credit fraud.
The operational risk year to date
Summary of distribution, frequency and severity of ORX News event digests.