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.

October top 5

Download October's Top 5

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.

ORX News is an industry-leading provider of publicly reported operational risk loss events.

Find out more about the service