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 Q4 2024.
November
1. Santander Group - $373.7 million
Santander provisions GBP 295 million over dealer commission on motor finance
2. Macquarie Group - $74.2 million
Macquarie loses GBP 59 million over fictitious trades and FCA fine
3. Metro Bank - $21.5 million
Metro Bank fined GBP 16.7 million by FCA for transaction monitoring failures
4. Invesco - $17.5 million
Invesco Advisers fined USD 17.5 million over alleged misleading ESG statements
5. Blue Cross Blue Shield Association - $12.7 million
BCBS of Michigan to pay USD 12.7 million to employee terminated after refusing COVID vaccine
October
1. Trafigura Control Holdings Pte. - $1.1 billion
Trafigura provisions USD 1.1 billion for fraud in Mongolia oil supply business
2. Traders Domain FX - $283 million
Traders Domain FX and others charged by CFTC in USD 280 million Ponzi scheme
3. Santander Group - $162.5 million
Santander pays USD 162.5 million over alleged unfairness in Santander Consumer tender
4. Banco de Sabadell - $151.4 million
TSB pays GBP 115.9 million for failures in handling customers in financial difficulty
5. JPMorgan Chase & Co. - $100 million
JPMorgan to pay USD 100 million for making misleading disclosures to private funds investors
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