Op risk data: Sanctions-busting fines cost banks $20bn
Also: ABN pays out for risk profiling fail; Deutsche settles nepotism charges. Data by ORX News
Jump to Spotlight: Bulgaria data breach | In Focus: Sanctions fines
In August’s largest operational risk loss, ABN Amro provisioned €114 million ($127.7 million) for a customer due diligence remediation programme after a probe by the Dutch central bank found that the lender had given most of its retail customers a neutral risk profile.
The central bank ordered ABN Amro to screen its five million retail customers in the Netherlands for criminal activity, including money laundering, and to ensure
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