Top 10 operational risk losses of 2018

Mega-fraud at China’s Anbang pushes up total losses year on year; SocGen suffers double blow

Operational risk losses rose by more than a quarter in 2018, reversing the trend of previous years that had seen annual falls in the loss total. However, a large part of last year’s $34 billion total is a single loss: Chinese insurer Anbang’s $12 billion embezzlement case. The number of individual loss events has increased, though, with 2018 seeing 728 incidents against 2017’s 710. The figures refer to losses that are publicly reported.

As was the case in 2017, internal theft and fraud continue