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.

ORX News top 5 chart May 2019

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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.

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