Britain's banking system took another hit when the British-based HSBC agreed to pay $1.9 billion U.S. to settle a money-laundering probe by the American federal government. The bank, with influence and branches around the world, admitted some culpability in transferring billions of dollars to enemies of the western world, like Iran and North Korea, as well as Mexican drug cartels.The bank won't be prosecuted further if it meets certain conditions, such as strengthening its internal controls to prevent money laundering. It is also far from the only English bank to come under fire from America since 2009. Lloyd's and Barclay's also agreed to pay penalties for ignoring U.S. sanctions and doing business with enemy nations. Switzerland's Credit Suisse and Dutch Bank ING were also not immune.