Bermuda and the United States will sign a treaty next week to crack down on money launderers, drug traffickers and terrorists.

The signing of the Mutual Legal Assistance Treaty (MLAT) will take place next Monday.

Finance Minister Paula Cox announced last month that negotiations over the details of the treaty had been finalised.

"We are pleased to be working with our American friends on this positive development for our two countries," Ms Cox said last night. "A signing ceremony has been scheduled for next Monday."

She added that the signing had special significance for her, as her late father and former Finance Minister Eugene Cox led the Bermuda delegation in the early rounds of negotiation.

The MLAT with Bermuda is one of a series being agreed by the US in order to counter criminal activity around the world more effectively. Ms Cox said last month the MLAT would help to bolster Bermuda's reputation as an international business centre.