Part VII United States-United Kingdom Issues, 22 Cooperation between the United States and the United Kingdom in the Prevention and Prosecution of Financial Crime

Subject(s):

Banks and cross-border issues — Electronic money — Criminal proceedings — Money laundering — Conduct of business regulation

This chapter starts by looking at the special relationship between the United States and the United Kingdom and how it relates to cooperation regarding the prevention and prosecution of financial crime. The chapter provides a primer on some of the formal and informal aspects of judicial and regulatory cooperation between the United States and the United Kingdom. Specifically, it discusses formal cooperation pursuant to the Treaty on Mutual Legal Assistance in Criminal Matters (the ‘U.S.-UK MLAT’), the Extradition Treaty Between the Government of the United States of America and the Government of the United Kingdom of Great Britain and Northern Ireland (the ‘U.S.-UK Extradition Treaty’), and other transnational and international agreements and understandings. It also discusses recent notable instances of more informal cooperation such as coordination regarding the cases of Bruno Iksil and the Royal Bank of Scotland.