HSBC has warned it could be fined more than £1bn ($1.5 billion) in the US and face criminal prosecutions over illegal money-laundering Britain's largest bank has said was "shameful and embarrassing".

(Editor's Note: SHAMEFUL and EMBARRASSING are not the right words to describe such activity - it is downright criminal! Any ordinary citizen would face decades in jail but not the Big Banks, their employees run the White House and 10 Downing Street among other places such as Wall Street and the City!)

Read More: HSBC profits hurt as fines charge hits $1.5bn - Telegraph