Top 10 op risks 2019: theft and fraud
Rogue employees are costly, but the thought of cyber mayhem dominates managers’ concerns
Despite slipping a place on Risk.net’s 2019 list, theft and fraud is still many operational risk manager’s worst nightmare. The idea of a massive heist by enterprising hackers, mercenary employees or plain old bank robbers, possibly followed by fines and penalties, keeps the category near the top of the op risk survey year after year.
Inside jobs made up the top three of 2018’s biggest publicly reported op risk losses: Beijing-based Anbang Insurance lost a shattering $12 billion to embezzlement
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