Ireland Tightens AML Screws on Gambling and Crypto

Ireland's government has launched its first National Anti-Money Laundering, Countering Financing of Terrorism and Countering Proliferation Financing Strategy.

The strategy lists gambling among sectors due for stronger oversight and includes five strategic priorities: strengthening national coordination, better identifying and understanding financial crime risks, delivering a stronger regulatory framework, building capability across Government and the private sector, and enhancing international cooperation.

Tánaiste Simon Harris said the strategy underpins the 'most significant strengthening of Ireland's anti-money laundering framework in years.'

The Department of Finance set out 30 numbered actions with named owners and deadlines to implement the strategy. Four actions apply to gambling: casino clubs operating machine-based gambling will be brought under a more robust regulatory framework, an industry standard for crypto-related activities as a source of funds will be established, 'closed-loop' systems will be adopted by gambling service providers, and private members' clubs offering gambling services will be made subject to mandatory licensing.

The Gambling Regulatory Authority of Ireland (GRAI) is the responsible body for these actions, which are due for delivery in Q2 2027. This is noteworthy because the GRAI is not yet the sector's AML supervisor.