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Monthly op risk losses: China’s Anbang faces huge fraud hit

Also: in-depth look at multi-billion fraud in Indian banking system. Data by ORX News

Anbang Insurance Group, Beijing
Anbang’s main offices in Beijing
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In the largest operational risk loss in March, the former chairman and general manager of Anbang Insurance, Wu Xiaohui, has been accused by the Chinese government of embezzling a total of 75.2 billion yuan ($11.99 billion) for improper usage of funds and insurance premiums.

The China Insurance Regulatory Commission seized control of the insurer in February after Shanghai prosecutors charged Wu with

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