Op risk data: Goldman 1MDB settlement swells 2020 loss tally
Also: Deutsche fined over Epstein KYC failings; collateral fraud in focus. Data by ORX News
Jump to: In focus: Collateral mismanagement | Spotlight: Aussie banks pay for underpaying staff
July’s largest loss saw Goldman Sachs announce that it had reached an agreement with the Malaysian government to settle criminal proceedings relating to the bank’s involvement in the 1Malaysia Development Berhad fraud. Goldman Sachs agreed to pay $2.5 billion to resolve the proceedings – the government had been seeking as much as $7.5 billion – and agreed to return at least $1.4 billion in proceeds
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