The ORX News team has compiled a list of the five largest operational risk losses reported in 2024. Continue reading to learn about the operational risk loss events that have had the greatest impact this year.
ORX News subscribers can access the complete article about the largest losses of 2024, along with a presentation detailing the country, loss amount, industry, and the frequency and severity of the events.
Top 5 loss events from ORX News: 2024
1. TD Bank Group - $3.09 billion
TD Bank fined USD 3.09 billion by US regulators for money laundering and BSA violations
2. Skytrail Servicing Group - $1.44 billion
Skytrail Servicing Group agrees proposed USD 1.44 billion settlement over payday loans
3. Reliance Group - $1.11 billion
Reliance Home Finance defrauded of INR 92.95 billion in commercial loan scheme
4. Trafigura Control Holdings - $1.10 billion
Trafigura provisions USD 1.1 billion for fraud in Mongolia oil supply business
5. UBS - $900 million
UBS sets aside USD 900 million to repay investors in Credit Suisse funds linked to Greensill
About ORX News
Stay on top of the latest operational risk losses with ORX News. ORX News is a leading source for information and analysis on publicly reported operational risk loss events from around the globe.
Created specifically for the financial sector, ORX News can help you:
- Identify loss trends you need to be aware of
- Provide data and information to support scenario modelling
- Enhance your internal loss data
- Raise awareness of operational risk across your organisation
