Each sentence below is divided into five parts (a), (b), (c), (d) and (e). Find the part that contains the error and give the answer accordingly. If there is no error, choose option (e) as your answer. If the financial regulators had implemented stricter monitoring systems earlier (a) / several fraudulent transactions (b) / might have been detected (c) / before they caused widespread financial losses (d). / No error (e).