Do you know which op risk loss events have had the most impact recently? Read on for the 5 largest operational risk losses reported by ORX News in Q2 2021.
June
1. Deutsche Bank – $121.8m
Deutsche Bank provisions EUR 100 million to compensate customers over fee increase ruling.
2. Robinhood Markets – $69.6m
Robinhood agrees to pay USD 70 million for misleading customers and supervisory failures.
3. Collins Asset Group – $15.8m
Collins Asset to pay USD 15.8 million for misleading investors to lend to shell companies.
4. Forex Capital Trading – $15.5m
Forex CT ordered to pay AUD 20 million by ASIC for systemic unconscionable conduct.
5. Deutsche Bank – $11.9m
Deutsche Bank pays over EUR 10 million to JGC for alleged mis-selling for forex derivatives.
May
1. UBS – $210.5m
UBS fined EUR 172.4 million by European Commission over EGB trading cartel.
2. Nomura – $158.2m
Nomura fined EUR 129.6 million by European Commission over EGB trading cartel.
3. UniCredit – $84.8m
UniCredit fined EUR 69.4 million by European Commission over EGB trading cartel.
4. Swiss Life Group – $77.4m
Swiss Life to pay USD 77.4 million for aiding US taxpayers avoid paying tax.
5. Bank of America – $75.0m
BofA to pay USD 75 million settlement for improperly charging overdraft and other fees.
April
1. Koineks Teknolojileri – $2bn
Thodex stops trading as CEO allegedly flees with USD 2 billion in user funds in fraud claims.
2. ABN AMRO – $575m
ABN AMRO pays EUR 480 million in fine and disgorgement over AML failings.
3. JPMorgan Chase & Co. – $18.8m
JPMorgan to pay up to USD 18.8 million over unpaid interest on mortgage funds held in escrow. 7
4. Bank of America – $15.3m
Bank of America fined EUR 12.6 million by European Commission for SSA bond trading cartel.
5. Credit Suisse – $14.3m
Credit Suisse fined EUR 11.9 million by European Commission over SSA bonds trading cartel.
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
