2021’s top 10 op risk losses hog the year’s $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, perpetrated on retail investors, topped the charts. While these losses 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 Read more: https://bit.ly/3flyCth

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