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 and the largest losses by region.
Five largest operational risk losses in October 2026
1. Binance – $3.3 billion
Binance loses at least USD 3.3 billion in cryptocurrency hack linked to North Korea (ORX News subscribers log in to read the full summary)
2. Bank of America – $1.2 billion
Bank of America fined USD 1.2 billion by FinCEN and OCC for AML failures (ORX News subscribers log in to read the full summary)
3. American Express – $350 million
AmEx fined USD 350 million by OCC and penalised by FRB for AML failures (ORX News subscribers log in to read the full summary)
4. Akbank – $34.7 million
Akbank fined TRY 1.71 billion in labour-market competition case (ORX News subscribers log in to read the full summary)
5. SEB Group – $33 million
SEB fined USD 33 million by NYSDFS for AML 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.
Progressive – $8.5 million
Progressive pays USD 8.5 million to settle allegations it failed to timely pay PIP claims (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
Binance – $3.3 billion
Binance loses at least USD 3.3 billion in cryptocurrency hack linked to North Korea (ORX News subscribers log in to read the full summary)
Global
Akbank – TRY 1.71 billion
Akbank fined TRY 1.71 billion in labour-market competition case (ORX News subscribers log in to read the full summary)
About ORX News
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- Enhance your internal loss data
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