Loss Event Categories

        Loss Event Categories   Student Name Program Name or Degree Name (e.g., Master of Science in Nursing), Walden University COURSE XXX: Title of Course Instructor Name Month XX, 202X   Loss Event Categories Event 1: Activision Discrimination Allegations In this event, Activision came under legal probe following complaints of workplace discrimination. Under the Base Event Category, the event falls under the Employment Practices and Workplace Safety categorization. This is because sexual misconduct and workplace discrimination directly impact employees’ mental and physical well-being in any organization (Roscigno, 2019). Thus, the matter touches on the safety and well-being of the employees. Activision solved the problem by hiring a new Chief People Officer while the issue remains in a court of law. Nevertheless, the allegations caused a 3.4% drop in the firm’s stock. The event took place in a sales and trade business line. Event 2: Accidental Deposit In this event, Chase Bank deposited $50 billion to a user’s account by mistake. The bank explained that it had a technical glitch resulting in the error (Elassar, 2021). Under the Basel events category, this event is categorized as Business Disruption and System Failure. This is because a glitch in the system caused the bank to make the error. Chase bank reported that the glitch was fixed one day after it was noticed, and the money deposited in the wrong account was recovered. This event took place in a retail banking business line. Event 3: Rigging the Foreign Exchange Market In this event, JP Morgan, the Royal Bank of Scotland, and Barclays, among other banks, were fined 1.07 billion Euros by the EU for rigging the foreign exchange market. Under the Basel events category, this event accounts for Clients Products and Business Practices. This is because the giant banks used their current business practices and influence to try and rig the forex market. As mentioned earlier, the banks involved were fined by the EU for the conduct. They relied on their practices and influence over clients to create a system that would favor the banks. This event happened in the commercial banking business line. Event 4: Guilty of Fraud In this event, a suspect pleaded guilty to obtaining over 1.6 million fraudulently in Paycheck Protection Program Loans. This event is an External Fraud under the Basel Events Category. This is because the event involves a third party circumnavigating institutional processes and procedures to obtain money. In this case, the action taken was to sue the suspect in a court of law. The event happened in the Payment & Settlements business line.  Event 5: Stimulus Checks for Dead People In this event, over 60,000 stimulus checks authorized by the CARES Act were sent to dead recipients. This event is an example of the Basel Chart’s Clients, Products, & Business Practices event. This was either unintentional or negligent failure to meet professional obligations stipulated by the CARE Act. In essence, there was no intention to d...