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

External fraud losses were dominant in the first half of 2009, while internal fraud losses were more prominent in the latter half of the year. While there were no massive fraud events on the order of Jérôme Kerviel or Bernard Madoff in 2009, the year did include several incidents of large-scale credit fraud and unauthorised activity by traders and financial advisers.

The category of ‘Clients, products and business practices’ has been represented among the top five losses in almost every month d

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