Top 10 op risk losses for 2021 hog $15bn total
Despite more fraud and crypto crime, firms’ op risk losses fall in number and in volume. Data by ORX News
The largest op risk losses of 2021 by sheer mass occurred in the hinterland of institutional finance – the world of cryptocurrency trading – where two mega-heists of more than $2 billion apiece topped the charts. While these losses, perpetrated on retail investors, ultimately accrue to the retail platforms themselves as the parties liable to make good their customers – and while they form part of the rolling loss tallies compiled by ORX News – they do not feature in Risk.net’s main summary of
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