Standard Chartered could face up to $700m in fines if found guilty of allegations it helped Iranian clients conduct money laundering.
HSBC has revealed it faces a hefty fine - estimated at $1bn by analysts - from US regulators for failing to have the right anti money laundering controls in place from 2004 until 2010.
UK banking giant HSBC is planning to apologise to the US Senate following an investigation earlier this year into money laundering.
The head of the Vatican Bank, Ettore Gotti Tedeschi, has been sacked for neglecting duties, just a few years after he was embroiled in a money laundering scandal.