Top 10 op risk losses for 2021 hog $15bn total

Nickel mining in Indonesia: a nickel trading fraud was the largest op risk loss in 2021

James Ryder and ORX News
14 Jan 2022

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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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