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 October 2025
1. HSBC - $1.1 billion
HSBC provisions USD 1.1 billion related to litigation with Herald Fund over Madoff losses (ORX News subscribers log in to read the full summary)
2. BNP Paribas - $221.5 million
BNP Paribas provisions EUR 190 million over alleged fraud (ORX News subscribers log in to read the full summary)
3. JPMorgan - $170 million
JPMorgan loses USD 170 million in asset-backed finance fraud by Tricolor (ORX News subscribers log in to read the full summary)
4. Barclays - $147.2 million
Barclays loses GBP 110 million in asset-backed finance fraud by Tricolorl (ORX News subscribers log in to read the full summary)
5. Cryptomus – $126.4 million
Cryptomus fined CAD 177 million by FINTRAC over AML/CTF and reporting failures (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.
IAG – $44 million
IAG pays NZD 75.5 million over "systemic" misrepresentations to customers (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
JPMorgan - $170 million
JPMorgan loses USD 170 million in asset-backed finance fraud by Tricolor (ORX News subscribers log in to read the full summary)
Global
HSBC - $1.1 billion
HSBC provisions USD 1.1 billion related to litigation with Herald Fund over Madoff losses (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
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- Get data and information to support scenario modelling
- Enhance your internal loss data
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