What can loss databases do for you?

Many banks need to understand fully the role that external op risk loss databases can play.

Operational loss databases are essentially a collection of stories. These stories can constitute the low-frequency but high-severity incidents of major fraud and error that make newspaper headlines and which are archived in media and specialist databases external to the financial services industry.

Or the stories can tell of the high-frequency but low-severity losses that constitute the quiet, everyday life that banks and financial institutions record in their own internal databases. Examples