HSBC has agreed to pay $1.9 billion to settle charges that it violated U.S. anti-money laundering rules. This record settlement indicates that the government has improved when it comes to identifying and punishing institutions that try to avoid complying with federal regulations. Standard Chartered PLC and the First Bank of Delaware also have been caught violating regulations and have recently agreed to pay millions in penalties.

Beth Moskow-Schnoll, a partner with Ballard Spahr, expects that more organizations will be paying penalties. She notes, “I think we’ll see more of these, because when the government is successful, they tend to follow up on other violators.”