Ireland Cracks Down on Money Laundering with Gambling and Crypto AML Rules

The Irish government is introducing stricter anti-money laundering (AML) controls to regulate the country's gambling and cryptocurrency industries. The new strategy aims to strengthen oversight, improve intelligence sharing, and enhance enforcement powers.

Gambling operators will face increased scrutiny under the new rules, with a 'more robust regulatory framework' for casinos offering machine-based gaming. Cryptocurrency transactions will also come under closer examination, with a requirement for due diligence on crypto-related deals.

The government plans to increase transparency around company ownership by mandating disclosure of ultimate beneficial owners of limited partnerships. The Central Bank of Ireland will also develop a 'systematic understanding' of emerging technologies, including artificial intelligence, and their potential impact on financial crime defences.

Tánaiste Simon Harris stated that the strategy 'underpins the most significant strengthening of Ireland's anti-money laundering framework in years', adding that it would give law enforcement agencies stronger tools to combat money laundering. The new rules are part of a broader overhaul of gambling regulation, with the Irish Remote Betting Licence framework already in effect.