This presupposes the existence of appropriate national and international laws and the capacity for implementation of those laws. In addition, the wide scope of affected stakeholders in anti money laundering efforts require an unprecedented level of co-operation both at national and international levels.
Recovering from the great recession In mid-2009, the world economy began to emerge from the most severe financial crisis since the Great Depression. In Canada, the recession lasted for three quarters, from the latter months of 2008 to mid-2009. Our exports fell dramatically in response to a steep drop in U.S. demand. Firms cut back on employment; some 417,000 jobs were lost.