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 in Q4 2023.
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October 2023
1. TD Bank - $95 million
TD Bank settles USD 95 million with victims of TelexFree Ponzi scheme
2. General Electric - $61 million
GE to pay USD 61 million for alleged self-dealing in 401(k) plan before divestment
3. Metropolitan Commercial Bank - $29.5 million
Metropolitan Commercial Bank fined USD 29.5 million over customer identification via partner
4. Allstate - $25 million
Allstate reaches USD 25 million settlement over forbidden price optimisation
5. ADM Investor Services - $11.3 million
ADM Investor Services to pay GBP 9.3 million for ongoing AML compliance 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:
- 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
