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Top 5 ORX News Losses: Q3 2021


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 Q3 2021.


1. BitConnect – $2000m

BitConnect executives allegedly embezzle BTC 325,000 investor funds in fraudulent offering.

2. Erste Abwicklungsanstalt – $1168.4m

Erste Abwicklungsanstalt found liable for around EUR 1 billion WestLBcum-ex tax debt.

3. ABN Amro Group – $297m 

ABN AMRO provisions EUR 250 million over interest calculations on revolving credits.

4. Interactive Brokers Group – $84.3m 

Interactive Brokers to pay USD 84.3 million for failing to adequately prepare trading system.

5. Wells Fargo & Company – $72.7m

Wells Fargo USD 72.7 million DoJsettlement for overcharging customers using FX services.

Download September's Top 5


1. Poly Network – $269m

Poly Network loses USD 269 million in cryptocurrencies in hack exploiting system vulnerability.

2. Livingston Group Asset Management Company – $110m

Southport Capital CEO alleged USD 110 million Ponzi scheme defrauds hundreds of customers.

3. HDR Global Trading Limited – $100m 

BitMEXto pay USD 100 million for operating illegally and having insufficient AML controls.

4. Quoine – $97m 

Liquid loses over USD 97 million in cryptoassetsvia hack on warm wallets.

5. Crédit Agricole – $95.1m

Amundi entities to pay EUR 80.1 million for alleged manipulation of Euro Stoxx 50 Futures.

Download August's Top 5


1. Westpac – $255.1m

Westpac exposed to AUD 341 million loss through Forum Financing leasing invoice fraud.

2. LBGI – $125.2m

LBGI fined GBP 90.7 million for misleading language in 9 million home insurance renewals.

3. TIAA – $97m 

TIAA pays USD 97 million for failure to disclose conflict of interest in pension plan advice.

4. Sumimoto Mitsui – $73.9m 

Sumimoto Mitsui exposed to AUD 98.9 million loss through Forum Finance leasing invoice fraud.

5. Westpac – $65.1m

Westpac to pay AUD 87 million remediation to customers for failing to pass on corporate action.

Download July's Top 5

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
Find out more about ORX News

ORX News

The hub that puts global op risk events at your fingertips

Find out more about ORX News