What's with the London banks?

First, it was Barclay's with the Libor scandal.  Then, it was HSBC with money laundering.  Today's London bank is Standard Chartered.  It has been accused by the New York State Department of Financial Services of giving Iran and other countries the opportunity to violate our sanctions.  The department claims that through the bank's efforts from 2001 through 2010 Iranian banks and corporations were able to hide about 60,000 transactions worth at least $250 billion within the bank.

Further, the department asserts that top management of the bank knew about it.  In fact, they even published a procedures manual, “Quality Operating Procedure Iranian Bank Processing,” explaining how to violate the sanctions.