Top 5 ORX News Losses: Q3 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 Q1 2019 from ORX News.

September

1.   Mitsubishi Corporation, Singapore – $320.0m

Mitsubishi rogue trader loses USD 320 million through unauthorised derivatives transactions.

2.  Caixa Geral de Depósitos, Portugal – $90.4m

Caixa Geral de Depósitos fined EUR 82 million by AdC for anti-competitive practice.

3.  Santander Group, Brazil – $67.4m

Santander ordered to pay BRL 274 million over harassment of employees.

4.  Millennium BCP, Portugal – $66.1m

Millennium BCP fined EUR 60 million by AdC for anticompetitive practice.

5.  Santander Group, Portugal – $38.6m

Santander fined EUR 35 million by AdC for anticompetitive practice.

August

1.   ABN Amro Group, Netherlands – $127.7m

ABN AMRO makes EUR 114 million provision for customer due diligence remediation.

2.  ITT Educational Services. United States – $60.0m

ITT agrees to pay USD 60 million over alleged predatory lending practices.

3.  Central Bank of India, India – $49.6m

Central Bank of India defrauded of INR 3.55 billion in commercial loans through fake documents.

4.  CTBC Financial Holding, Hong Kong – $24.6m

CTBC executives embezzle TWD 773 million through takeover bids, real estate sales and loans.

5.  Deutsche Bank, China – $16.2m

Deutsche Bank reaches USD 16.2 million settlement with SEC over improper hiring practices.

July

1.   Punjab National Bank, India – $555.6m

PNB defrauded of INR 38.05 billion by steel manufacturer who manipulated account books.

2.  The Abraaj Group, United Arab Emirates – $314.6m

Abraaj Group fined USD 314.6 million for deceiving investors and misappropriating funds.

3.  Allahabad Bank, India – $258.9m

Allahabad Bank defrauded of INR 17.75 billion by manufacturer who manipulated account books.

4.  Deutsche Bank, Netherlands – $197.1m

Deutsche Bank pays EUR 175 million to settle bribery allegations over derivatives trades.

5.  Capital One, United States – $150.0m

Capital One suffers data breach in which hacker steals information of 106 million individuals.