In the 10 years since the global economic crash, commitment to regulation which would avoid the next one, and to the cooperation that prevented a new depression is waning.
That is according to the managing director of the International Monetary Fund (IMF), Christine Lagarde.
Ms Lagarde said that the failure to learn the right lessons from the 2008 banking crisis means that "murkier activities" may slip by unchallenged.
Her comments come on the 10th anniversary of the collapse of Lehman Brothers.
She said in an IMF blog post: "We have come a long way, but not far enough. The system is safer, but not safe enough. Growth has rebounded but is not shared enough."
According to Ms Lagarde, the ordinary people are angry at the heavy economic costs which they have borne as well as the failure to hold bankers to account, which has led to a distrust of globalisation and the "erosion of trust" in government and other institutions.
The IMF boss said that there are two major areas in need of reform and that is improved ethics and the need for more women in the financial sector.
She said: "A key ingredient of reform would be more female leadership in finance. I say this for two reasons.
"First, greater diversity always sharpens thinking, reducing the potential for groupthink. Second, this diversity also leads to more prudence, with less of the reckless decision-making that provoked the crisis.
"Our own research bears this out—a higher share of women on the boards of banks and financial supervision agencies is associated with greater stability."