Op risk data: Wells Fargo whacked for Wachovia lapse, and a Ponzi slap

Also: Long and winding road to the end of Credit Suisse; Swedbank IT fails. Data by ORX News

Wells Fargo leads March’s major losses on two counts – the first of which hit the bank with fines totalling $97.8 million. The lender was forced to settle claims it facilitated trade finance transactions with US-sanctioned jurisdictions and persons in one fine of $30 million, paid to the US Department of the Treasury’s Office of Foreign Assets Control (OFAC), and a further fine of $67.8 million to the US Federal Reserve.

Some 124 violations of US sanctions against Iran, Syria and Sudan sparked

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Digging deeper into deep hedging

Dynamic techniques and gen-AI simulated data can push the limits of deep hedging even further, as derivatives guru John Hull and colleagues explain

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