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 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 May 2026
1. HSBC - $400 million
HSBC loses USD 400 million from back leverage exposure to alleged fraud by MFS (ORX News subscribers log in to read the full summary)
2. Futu Holdings – $272.1 million
Futu Holdings fined CNY 1.85 billion over unlicensed cross-border securities dealings (ORX News subscribers log in to read the full summary)
3. Tiger Brokers – $60.5 million
Tiger Brokers fined CNY 411.2 million over unlicensed cross-border securities dealings (ORX News subscribers log in to read the full summary)
4. Société Générale – $23.3 million
SocGen fined EUR 20 million by ACPR over retail customer information disclosure failures (ORX News subscribers log in to read the full summary)
5. Westpac - $19.9 million
Westpac to pay AUD 27.7 million for failing to respond to customer hardship notices (ORX News subscribers log in to read the full summary)
Largest insurance loss
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Société Générale – $23.3 million
SocGen fined EUR 20 million by ACPR over retail customer information disclosure failures (ORX News subscribers log in to read the full summary)
Largest losses by region
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North America
State Farm - $12.6 million
State Farm pays USD 12.6 million over alleged vehicle damage compensation failures (ORX News subscribers log in to read the full summary)
Global
HSBC - $400 million
HSBC loses USD 400 million from back leverage exposure to alleged fraud by MFS (ORX News subscribers log in to read the full summary)
About ORX News
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