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Top 5 ORX News Losses: Q3 2024

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Each month, the ORX News team publish a list of the five largest operational risk losses reported in the previous month. Read on to discover the operational risk loss events have had the most impact so far in Q3 2024.

 

September

 

1. Macquarie Group - $79.8 million

Macquarie pays USD 79.8 million to SEC for overvaluing MBS in funds and cross trade violations

2. Canadian Imperial Bank of Commerce - $42 million

CIBC fined USD 42 million by SEC and CFTC over record-keeping failures

3. Stifel Financial Corporation - $35 million

Stifel fined USD 35 million by SEC for widespread record-keeping failures

4. TD Bank Group - $28.1 million

TD Securities pays USD 28.1 million for spoofing US Treasury market and supervisory failures

5. TD Bank Group - $27.8 million

TD Bank ordered to pay USD 27.8 million by CFPB for misreporting customer credit reports

August 

 

1. Reliance Group - $1.11 billion

Reliance Home Finance defrauded of INR 92.95 billion in commercial loan scheme

2. H2O AM Holding - $273 million

H2O pays EUR 250 million for control failures linked to illiquid Windhorst investments

3. Drive Planning - $217.1 million

Drive Planning charged by SEC with defrauding investors of USD 217.1 million in Ponzi scheme

4. Ripple - $125 million

Ripple Labs fined USD 125 million by SEC for unregistered crypto securities offering

5. TD Bank Group - $124.5 million

TD Bank fined USD 124.5 million by SEC and CFTC for widespread record-keeping failures

 

July 2024

 

1. Skytrail Servicing Group - $1.44 billion

Skytrail Servicing Group agrees proposed USD 1.44 billion settlement over payday loans

2. WazirX - $235 million

WazirX crypto exchange suffers USD 235 million hack

3. Bank of America, Citigroup, Jefferies, NatWest, Nomura, UBS - $80 million

Six banks agree to pay USD 80 million settlement over involvement in EGB trading cartel

4. Vitol - $63.9 million

Vitol and SK Energy to pay USD 63.9 million for plotting to artificially inflate gas prices

5. Silvergate Capital Corporation - $63 million

Silvergate fined USD 63 million by DFPI, Fed, and SEC for transaction monitoring failures

 

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:

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  • Enhance your internal loss data
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