Losses and lawsuits


Our regular review of the losses and problems caused for financial firms falling foul of fraud, management failure, human error and other operational hazards, as recorded in the IC2 First Loss Database

Mellon Bank -- fined after staff destroy tax returns

In a people risk case in April the US government charged Mellon Bank in Pittsburgh with destroying as many as 71,000 tax returns. The bank agreed to pay a fine of $13.6 million, the amount that US Treasury Department officials estimated had be

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