Monthly Top 5 ORX News Losses – October 2018
- 12 November 2018
1. Aegon – $205m
Transamerica pays USD 205 million to settle dispute over life insurance charge increases.
2. Capital One – $100m
Capital One fined USD 100 million by OCC for inadequate BSA/AML programme.
3. Mashreqbank – $40m
Mashreqbank fined USD 40 million for AML violations regarding its US dollar clearing operations.
4. Navy Federal Credit Union – $24.5m
Navy Federal Credit Union to pay USD 24.5 million to settle improper overdraft fee claims.
5. Avant-Bank – $21.1m
Avant-Bank employees issue UAH 602 million to affiliated companies in fraudulent loans.
The operational risk year to date
Summary of distribution, frequency and severity of ORX News event digests.