To say that a lack of information was not the heart of the problem is not to say that the available data were ideal. Indeed, after the Mexican crisis, the (then) ECSC made considerable efforts to improve the semiannual banking statistics collected by the BIS.
Over the past two decades, the FATF has been driving regulatory change to improve safeguards against money laundering, terrorist financing, and the financing of weapons of mass destruction. These standards are constantly being revamped to address new and emerging risks. Through the mechanisms which we have set up, we will continue to undertake the necessary reforms on an ongoing basis.