Most viewed ORX News loss events in Q2 2019

At the end of each quarter, ORX News publish a summary of the ten most viewed loss events in the ORX News database. The loss events are ranked by number of views, and listed with their business line and event type.

ORX News is an industry-leading provider of publicly reported operational risk loss events. For more information or if you are interested in subscribing, please visit the ORX News homepage.

The most viewed stories on the ORX News site between 1 April 2019 and 30 June 2019:

1. The FCA fined Goldman Sachs £34.3 million for failing to report or accurately report 220.2 million transactions between 2007 and 2017. Goldman did not have adequate controls to prevent or detect the errors.
   ORX News subscribers can read the story here

2. Morgan Stanley agreed to pay $10.2 million to settle class action claims it violated California labour law by failing to reimburse employees for business expenses.
   ORX News subscribers can read the story here

3. The Central Bank of Ireland fined Bank of Montreal Ireland £1.9 million for failing to submit operational risk reports and establish controls to comply with this regulatory reporting condition.
   ORX News subscribers can read the story here

4. The FCA fined Raphaels Bank £1.9 million following a technology failure at a third-party processor. The FCA found that the bank’s poor outsourcing management had exposed
   customers to harm.
   ORX News subscribers can read the story here

5. A power shutdown at a Wells Fargo data facility was automatically triggered by smoke produced during routine maintenance. Mobile app, online banking and ATM services were affected.
   ORX News subscribers can read the story here

6. Bank of Valletta shut down its systems after cybercriminals fraudulently transferred €13m. The bank recovered €10 million.
   ORX News subscribers can read the story here

7. Morgan Stanley has paid a total of $4.01 billion in fines and settlements between July 2014 and April 2019 for mis-selling mortgage-backed securities.
   ORX News subscribers can read the story here

8. Hackers reportedly accessed the systems of outsourcing and consulting company Wipro and used them to launch phishing attacks against at least 12 of the company’s clients.
   ORX News subscribers can read the story here

9. UniCredit agreed to pay $1.3 billion to several US authorities to settle claims it facilitated the movement of hundreds of millions of dollars through the US financial system on behalf of sanctioned countries and entities.
   ORX News subscribers can read the story here

10. The China Securities Regulatory Commission fined Goldman Sachs 150 million Chinese yuan after proprietary traders breached internal controls.
    ORX News subscribers can read the story here