Fraud op risk losses edged up at UK banks in 2020

An average 38% of losses by value last year were because of internal or external fraud

External and internal fraud accounted for the lion’s share of the operational risk losses at five top UK banks in 2020, and made up a greater portion of the average total than the year before, Risk Quantum analysis shows.

At Barclays, Lloyds, NatWest Group, Santander UK and Standard Chartered, fraud was cited as the cause behind 38% of total op risk losses by value on average. The year before, it was 22%.

Santander UK attributed 59% of total op risk losses incurred last year to fraud, compared

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact info@risk.net to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Risk.net? View our subscription options

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here