Monthly Top 5 ORX News Losses – May 2019
- 6 June 2019
1. Nota Bank, Russian Federation – $382.3m
Nota Bank executives allegedly embezzle RUB 25 billion through fraudulent commercial loans.
Business Line: BL0401 Commercial Banking
Event Type: EL0102 Internal Theft & Fraud
2. Citigroup, Belgium – $348.2m
Citigroup fined EUR 310.8 million by EC for participating in FX spot trading cartel.
Business Line: BL0202 Global Markets
Event Type: EL0402 Improper Business or Market Practices
3. Royal Bank of Scotland, Belgium – $279.2m
RBS fined EUR 249.2 million by EC for participating in FX spot trading cartel.
Business Line: BL0202 Global Markets
Event Type: EL0402 Improper Business or Market Practices
4. Commonwealth Bank of Australia, Australia – $262.2m
CBA provisions AUD 375 million in remediation for business banking customers.
Business Line: BL0401 Commercial Banking
Event Type: EL0401 Suitability, Disclosure & Fiduciary
5. JPMorgan Chase & Co., Belgium – $256.3m
JPMorgan fined EUR 228.8 million by EC for participating in FX spot trading cartel.
Business Line: BL0202 Global Markets
Event Type: EL0402 Improper Business or Market Practices
The operational risk year to date
Summary of distribution, frequency and severity of ORX News event digests.
