"The loss of time-sensitive protocols and data sharing initiatives will be a massive step backward in the modern collaborative approach against terrorism," the report said.
Moreover, since the UK serves a great deal of warrants on behalf of the EU, Europe will experience a weakening of law enforcement and counterterrorism approaches that are already strained as a result of finite resources, the report added.
READ MORE: Brexit Deal a Piece of Cake for Labour Gov't as Time's Running Out — Corbyn
With Brexit scheduled to take place in 2019, there is growing concern that the worst-case scenario — a no deal departure in which the UK separates from the EU before achieving a broad-based, comprehensive agreement — is becoming the most likely scenario, according to the report.