I believe that copper is used for the E field, Mu Metal is used for the Mag field, if you interleave them, you get protection from both the E field and the Mag field,this is what they do in say, a UTC HA-10-X input coil where you need a lot of protection,
Since the copper 'belt' wrapped around this output transformer is outside the 'line integral" ie, the closed loop path of the magnetic flux, it does not constitute a shorted turn, thus you do not have to insulate the ends like you might do on an isolation transformer pri/sec shield, or like on a 600:60 line input where the shield is used to reduce capacitance and thus improve freq response,
I guess this shield is more like a Faraday Cage, however it does not completely enclose the transformer as the top and bottom of the transformer does not have the copper folded over like you might see on some transformers.
'Shielding can be anything from using a coaxial or shielded cable, to a sealed conductive chamber for circuit isolation. Shielding serves a reciprocal purpose: it protects the circuit it is shielding from outside noise or unwanted signals; and conversely, it contains its own signals and thus protects the outside world from interference of its own making. Shielding is mostly used to block electrostatic or "E" fields (Faraday shield). However, if ferrous metal (tempered Mu Metal works best for magnetic fields) is used, then both electrostatic and some level of magnetic shielding is accomplished. This is especially useful where open frame transformers or unshielded coils are used and would otherwise exchange signals by mutual inductance. "
hey check this out, a bar owner got fed up with cell phones so he installed a Farady cage!
https://www.sciencealert.com/a-talented-bar-owner-in-the-uk-has-built-a-faraday-cage-to-stop-customers-using-their-phones