Brexit and financial crime

Judicial cooperation between EU Member States is an integral part of the EU’s area of freedom, security and justice (‘AFSJ’). This is particularly the case as it concerns cooperation in criminal matters. Brexit poses a new challenge to this area for both the UK and the EU. In its future relationship with the EU, judicial cooperation in criminal measures used to fight financial crime will be tested. This chapter highlights some of the legal hurdles posed by Brexit in the fight against financial crime, particularly as it concerns measures such as the European Arrest Warrant, confiscation regimes and the use of financial penalties. In doing so, it takes a preliminary look at the existing paradigm of cross border cooperation in criminal matters. The chapter also includes some thoughts on the normative clashes facing the creation of a new relationship in this area.