Each month, the ORX News team publish a list of the five largest operational risk losses reported in the previous month by industry and region. The top five provides a snapshot of the stories in the ORX News database.
ORX News is the industry’s leading source of publicly-reported operational and non-financial risk loss events. Subscribers get full access to the summaries of the losses mentioned below. Each summary provides an overview of the loss and is categorised by over 50 dimensions including:
- Sector, country and region
- Business line and event type level 1 and 2
- ORX Reference Taxonomy standard level 1 and 2
Read on to discover the top operational risk loss events that have had the most impact for February based on loss amount, followed by the largest loss for insurance, and finally the top losses in the North America and Europe, Middle East and Asia regions.
Five largest operational risk losses in February 2025
1. Bybit - $1.42 billion
Bybit loses USD 1.42 billion in alleged North Korean cyberattack (ORX News subscribers log in to read the full summary)
2. OKX - $504.8 million
OKX pays USD 504.8 million for operating illegally and AML violations (ORX News subscribers log in to read the full summary)
3. Close Brothers - $204.4 million
Close Brothers anticipates GBP 165 million (USD 204.4 million) provision over dealer commission on motor finance (ORX News subscribers log in to read the full summary)
4. Bank of Ireland - $180 million
Bank of Ireland takes EUR 172 million (USD 180 million) provision over dealer commission on motor finance (ORX News subscribers log in to read the full summary)
5. Woori Bank - $160.3 million
Woori Bank rebuked by FSS for improper loans worth KRW 233.4 billion (USD 160.3 million) (ORX News subscribers log in to read the full summary)
Largest insurance loss
Subscribers of ORX News can log into the ORX News platform to read the complete list of the top five losses from the insurance sector.
Health Net - $11.3 million
Health Net to pay USD 11.3 million over cybersecurity compliance failures (ORX News subscribers log in to read the full summary)
Largest losses by region
Subscribers of ORX News can log into the ORX News platform to view all top five losses by region.
North America
OKX - $504.8 million
OKX pays USD 504.8 million for operating illegally and AML violations (ORX News subscribers log in to read the full summary)
Europe, Middle East and Asia
Bybit - $1.42 billion - Europe, Middle East and Asia
Bybit loses USD 1.42 billion in alleged North Korean cyberattack (ORX News subscribers log in to read the full summary)
About ORX News
Created specifically for the financial sector, ORX News can help you:
- Identify loss trends you need to be aware of
- Increase awareness of operational risk across your organisation
- Get data and information to support scenario modelling
- Enhance your internal loss data
If you haven't subscribed yet, get in touch with us to learn more about the service.
