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An unsatisfactory trade deal between the United Kingdom and the European Union probably will not derail cooperation against money launderers, fraudsters and other criminals in both jurisdictions despite apparent warnings otherwise, say analysts.
British officials on Thursday confirmed their intention to keep national sanctions in line with those of the European Union following the United Kingdom's intended departure from the bloc in 2019.
British officials are in the early stages of considering whether to retain links to the European Union's sanctions after the United Kingdom exits the bloc, whose asset freezes and travel bans often don't survive judicial scrutiny.
A panel of European Union lawmakers Tuesday proposed requiring the bloc's member-states to share information on firms and trusts whose beneficial owners are required to pay taxes in other member-states.
Several London-based banks are considering establishing back offices within other European countries to maintain access to the EU market should the United Kingdom's plan to leave the economic bloc go forward.
