Types of operational risk loss by event, May 2007 to May 2009


Client, product and business practice losses have been steadily present throughout the past two years, with early losses in 2008 including those due to rogue trading and lax internal controls. By late 2008, the Bernie Madoff scandal surfaced, where banks and asset managers disclosed their losses due to the scheme. Also in 2008, losses moved from being large internal fraud losses to showing a sharp increase in external fraud losses. This trend is continuing into 2009, where the market is

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Investment banks: the future of risk control

This Risk.net survey report explores the current state of risk controls in investment banks, the challenges of effective engagement across the three lines of defence, and the opportunity to develop a more dynamic approach to first-line risk control

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