A Russian bank is responsible for April’s largest publicly reported operational risk loss. Suspected fraud at Yugra Bank has resulted in the arrest of majority shareholder, Alexey Khotin, according to the Investigative Committee of Russia. Authorities are probing the embezzlement of 7.5 billion rubles ($117 million).
Yugra Bank was declared bankrupt in September 2018 after its licence was revoked by the Central Bank of Russia the previous year. Yugra Bank’s collapse was one of the most