There seems to be no end to bank scandals as the HSBC has now been accused by US authorities of allowing billions of dollars to be laundered through it's US branch network, mainly on behalf of the Mexican drug gangs over a period of 7 years.

Their investigations have also pointed to other countries where the HSBC have been involved in transactions with local banks, where the initial funds could have eminated from some of the world's most notorious terrorist organisations.

Failure to toe the regulatory line in the US is expensive and adds to the goverment coffers but the HSBC is one of a number of banks that have come under investigation for similar transgressions and can expect a very substantial fine.