In December 2012, HSBC was penalised $1.9 billion (US), the largest fine under the Bank Secrecy Act, for violating four U.S. laws designed to protect the U.S. financial system.[155] HSBC had allegedly laundered at least $881 million in drugs proceeds through the U.S. financial system for international cartels, as well as processing an additional $660 million for banks in US sanctioned countries.