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Top 5 ORX News Losses: Q4 2021


Each month, the ORX News team publish a list of the five largest operational risk losses reported in the previous month. Read on to find out which operational risk loss events have had the most impact recently in Q4 2021.



1. Royal Bank of Scotland – $357.4m

NatWest Group fined GBP 269.5 million by FCA for AML failures.

2. JPMorgan Chase & Co. – $200m

JPMorgan to pay USD 200 million for failing to retain staff WhatsApp, text and email messages. 

3. HSBC – $197.4m 

HSBC fined EUR 174.3 million by EC for participating in FX spot trading cartel.

4. BitMart – $196m 

BitMart suffers hack through theft of private key leading to losses of around USD 196 million. 

5. Santander Group – $174.9m

Santander erroneously pays GBP 130 million to UK customer and business accounts.

Download December's Top 5


1. Mashreqbank – $100m

Mashreqbank agrees to pay USD 100 million for alleged breach of Sudan related US sanctions. 

2. bZeroX – $55m

bZx loses USD 55 million after theft of developer’s private keys in phishing attack.

3. Navient – $42.5m 

Navient to pay USD 42.5 million to settle two class action suits over misleading investors.

4. Westpac – $42.4m 

Westpac to pay at least AUD 59.4 million for charging deceased customers financial advice fees.

5. Westpac – $41.4m

Westpac to pay and provision at least AUD 58 million for charging inadequately disclosed fees.

Download November's Top 5

October 2021

1. ING – $209.6m

ING provisions EUR 180 million over interest calculations on revolving credit. 

2. BXH – $139.2m

BXH loses USD 139.2 million after hacker exploits administrator private key.

3. Cream Finance – $132m 

Cream Finance loses USD 132 million in crypto assets in flash loan attack.

4. Commonwealth Bank of Australia – $111.1m 

Colonial First State to pay AUD 150.1 million for misleading superannuation fund clients.

5. Not identifiable – $35m

Bank manager approves USD 35 million transfer from client account in deep fake voice clone scam.

Download October'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:

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  • 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