HSBC and Standard Chartered may have gotten out of the money laundering and sanction-skirting game just in time. Bitcoin, a virtual online "currency," seems to be gaining traction and legitimacy among those who need to transfer or launder their cash outside of the prying eyes of regulators.
"Just in time"? It's got nothing to do with time. The reasons those people got away with a crime is because they have power.
And I doubt very much that the banks have gotten out of the money laundering game. All that happened was they paid a fine (a fee) to ensure they don't get looked at again for some time. I'd bet that HSBC and SC got caught simply because they didn't kowtow to Wall St. powers.
Any sizeable money laundering thru Bitcoin would create huge demand and volatility as the market tried to deal with it. If there is anything going on now it's micro-peanuts compared to HSBC and buddies.