No 10 defends closer EU co-operation on cross-border crime

Downing Street has defended a decision to work more closely with the EU on cross-border crime as it prepares for Brexit.

The UK is joining forces with the remaining member states to strengthen action against the criminal movement of money across national boundaries.

Prime Minister Theresa May's spokesman said: "The PM has been clear that when it comes to security and criminality we want to co-operate closely with the European Union.

"This is a decision based on the fact that we are still an active member and the decision was taken in that light.

"As to what we do going forward that's all a matter to be discussed."

Financial Secretary to the Treasury Mel Stride said the move would "enhance border security without imposing disproportionate burdens on business".

He added: "The proposed new regulation will reinforce the existing controls of cash moving across EU borders, bringing these controls in line with international norms and best practices for addressing evolving forms of criminality.

"Until the UK leaves the EU it remains a full and participating member. We will continue to work with the EU institutions, with the aim of ensuring that UK objectives are preserved as the negotiations progress on any compromise text."