Top 5 ORX News Losses: Q4 2018
- 4 January 2019
Find out which operational risk loss events have had the most impact recently in the monthly top five losses of Q4 2018 from ORX News.
Each month, the ORX News team publish a list of the five largest losses reported in the previous month. Read on for all the top fives of Q4 2018.
December
1. JPMorgan Chase & Co. – $135.2m
JPMorgan pays USD 135.2 million to settle SEC allegations it mishandled pre-released ADRs.
2. Fortuna Bank – $79.8m
Fortuna Bank loses UAH 2.24 billion through insider loan scheme.
3. La Poste – $56.9m
La Banque Postale fined EUR 50 million by ACPR for serious failures in CTF programme.
4. Bank of New York Mellon – $54.2m
BNY Mellon pays USD 54.2 million to settle SEC allegations it mishandled pre-released ADRs.
5. Santander Group – $41.5m
Santander fined GBP 32.8 million by FCA for probate and bereavement process failings.
November
1. Société Générale – $95.0m
Société Générale pays EUR 95 million to NYDFS for AML and compliance deficiencies.
2. Citigroup – $38.8m
Citibank pays USD 38.8 million to settle SEC allegations it mishandled pre-released ADRs.
3. LendingTree – $28.7m
Home Loan Center to pay USD 28.7 million in damages due to selling bad mortgage loans.
4. Aetna – $25.6m
Aetna to pay around USD 25.6 million in bad faith verdict over denied cancer treatment.
5. TD Bank Group – $18.0m
TD Bank pays USD 18 million over claims it disadvantaged TD Ameritrade in Scottrade purchase.
October
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.