With the accession of China to the World Trade Organization in 2001, that country and, to a lesser extent, India started to become increasingly important global players. So the share of both Canadian and Mexican exports to the United States began to decline at about that time, while both countries began to import more from outside North America.
Nevertheless, the BSP, in coordination with other regulators such as the Anti-Money Laundering Council, is prepared to conduct investigations and information awareness campaigns to address cyber threats and financial crimes. The volatility, uncertainty, complexity and ambiguity (VOCA) in the economy and financial system has intensified due to this once-in-a-generation crisis.