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Britain has taken robust action to crack down on dirty money in recent years, its government said on Monday in response to reports that HSBC, Barclays and other banks moved large sums of allegedly illicit funds despite red flags about the origins of the money.

“Criminals should not be able to profit from their illegal activities in any circumstances, and we have taken robust action in recent years to crack down on dirty money,” a government spokesperson said in a statement.

Shares in HSBC and Standard Chartered fell on Monday to their lowest since at least 1998 after the media reports based on leaked suspicious activity reports filed by financial firms with the U.S. Dept of Treasury’s Financial Crimes Enforcement Network (FinCen).

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