Top 10 operational risk losses of 2019
Fraud, embezzlement, tax evasion, subprime (still) and rogue trading – and Citi crops up twice. Data by ORX News
By operational risk standards, 2019 was a modest year. Its $17.4 billion in losses look almost cursory next to the behemoth amounts of the recent past: $42.1 billion in 2018, $28.2 billion in 2017 and the astounding $56.9 billion of 2016.
Should anything be read into this? Has the industry turned a leaf? Will a virtuous cycle see op risk losses drop to negligible amounts over the next decade?
Judging by 2019, risk managers have little reason to fear redundancy any time soon: theft, tax evasion
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