 A U.S. Senate report from the permanent subcommittee for investigations revealed in July 2012 that HSBC – one of Europe's biggest banks- moved $7 billion in bulk cash from Mexico to the U.S., most of it suspected to assist Mexican drug lords and U.S. drug cartels in moving money to the U.S.While money laundering problems at HSBC have been flagged by regulators for nearly a decade, the bank continued to avoid compliance.On December 12, 2012, HSBC settled for a $1.93 billion fine.