Excellence provides (external) risk event and loss database for better
operational risk management. The source of data are newspapers,
websites and academic materials. These are compiled by a team
of Senior Operational Risk Officers and members of the outfit.
reading these events, ask – “what are the control breakdowns?
how can I prevent these in my institution? what are the
lessons learnt? “
may register and join the forum with fellow risk officers.
|Date ||Risk Event Title ||Description ||Control Breakdown ||Source |
|July 2017 ||Metrobank exec Charged with Bank Internal Fraud ||Fake Loan disbursments using the Bank's Long- time client. ||Maker-Checker, Employee Rotation, Know-your-employee ||http://www.bworldonline.com/content.php?section=TopStory&title=bsp-looking-into-metrobank-internal-fraud&id=148628 |
|June 2017 ||BPI Internal Glitch: Programmer's Error Resulted to Erroneous Balances of Customers Accounts ||The glitch happened after one of the bank's top technicians entered a wrong date while trying to update a report from the internal system. The balances were updated using transactions from April 27 to May 2 instead of June 6. ||Maker-Checker ||http://news.abs-cbn.com/business/06/21/17/bpi-programmer-owned-up-to-glitch-reassigned-official |
|March 2017 ||BDO: Accused by Cebu City Mayor of Tax Fraud ||Cebu City Mayo Tomas Osmena filed a complaint of alleged tax evasion with BDO Magallanes Branch for declaring a gross annual revenue of P400K in 2016, which is even lower than the branch manager's salary. ||Documentation ||http://cebudailynews.inquirer.net/117944/osmena-files-tax-fraud-complaint-vs-bdo-magallanes |
|March 2016 ||RCBC: Bangladesh Bank Heist ||Bangladesh Bank in FED (US) was hacked. Five transactions involving US$81 Million entered into PHL via RCBC using fictitious accounts and laundered through casinos. ||AML Controls Breakdown ||http://www.rappler.com/business/170698-rcbc-pays-bangladesh-bank-heist-fine-money-laundering |