Top 5 ORX News Losses: Q2 2019

  • 2 July 2019
Text on green background saying April-June Operational Risk Losses Q2 2019

Each month, the ORX News team publish a list of the five largest losses reported in the previous month. 
Find out which operational risk loss events have had the most impact recently in the monthly top five losses of Q2 2019 from ORX News.


1.   I Monetary Advisory, India – $287.6m

IMA defrauds investors of INR 20 billion in alleged Ponzi scheme.

2.  Erste Group, Romania – $261.9m

Erste Group provisions up to EUR 230 million over Romanian housing subsidy programme.

3.  Control-Finance, United Kingdom – $147.0m

Control-Finance defrauds investors of USD 147 million in Bitcoin trading Ponzi scheme.

4.  State Street Corporation, United States – $94.3m

State Street pays USD 94.3 million for overcharging clients for custody-related expenses.

5.  Danske Bank, Denmark – $60.9m

Danske Bank to refund DKK 400 million after customers were overcharged for investment product.

Download June's Top 5


1.   Nota Bank, Russian Federation – $382.3m

Nota Bank executives allegedly embezzle RUB 25 billion through fraudulent commercial loans.

2.  Citigroup, Belgium – $348.2m

Citigroup fined EUR 310.8 million by EC for participating in FX spot trading cartel.

3.  Royal Bank of Scotland, Belgium – $279.2m

RBS fined EUR 249.2 million by EC for participating in FX spot trading cartel.

4.  Commonwealth Bank of Australia, Australia – $262.2m

CBA provisions AUD 375 million in remediation for business banking customers.

5.  JPMorgan Chase & Co., Belgium – $256.3m

JPMorgan fined EUR 228.8 million by EC for participating in FX spot trading cartel.

Download May's Top 5


1.   Yugra Bank, Russian Federation – $117.2m

At least three former Yugra Bank executives allegedly embezzle RUB 7.5 billion.

2.  Nordea, Denmark – $106.1m

Nordea provisions EUR 95 million to cover potential AML-related fine.

3.  Wells Fargo & Company, United States – $68m

Wells Fargo defrauded of USD 68 million in loan fraudulently obtained by farmer.

4.  Rossiya Joint-Stock Insurance Company, Russian Federarion – $51.4m

Bank Eurocommerce chairman allegedly embezzles RUB 3.3 billion through fraudulent share deals.

5.  Agrani Bank, Bangladesh – $30.4m

Agrani Bank defrauded of BDT 2.59 billion in commercial loan scheme.

Download April'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.

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