Monthly Top 5 ORX News Losses – September 2018

  • 8 October 2018

1.  Société Générale – $1.28bn

SocGen provisions EUR 1.1 billion to settle with US regulators over trade sanctions violations.

2.  ING Group – $899.8m

ING Bank pays EUR 775 million settlement over allegations it violated AML and CTF regulations.

3.  Global Credit Recovery – $345.0m

SEC halts Global Credit Recovery from operating USD 345 million Ponzi scheme.

4.  State Farm – $250.0m

State Farm pays USD 250 million to settle claims it rigged election of favourable judge.

5. Punjab National Bank – $74.2m

Punjab National Bank allegedly defrauded of INR 5.39 billion in loans.

The operational risk year to date

Summary of distribution, frequency and severity of ORX News event digests.

September top 5

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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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