Ireland is introducing tighter anti-money laundering (AML) controls for the gambling sector as part of the country’s first national anti-money laundering strategy, including mandatory closed-loop payments and enhanced scrutiny of cryptocurrency transactions.
Under the new approach, gambling operators will be required to return withdrawals to the same account used to make deposits. The measure is intended to make transactions easier to trace and reduce opportunities for criminal funds to be moved through unrelated payment channels.
The strategy also increases oversight of areas considered vulnerable to money laundering, including machine-based casino clubs. Operators will face closer checks on licensing conditions and the effectiveness of their AML controls.
Cryptocurrency transactions will also come under tighter scrutiny, with gambling businesses accepting digital assets expected to conduct enhanced due diligence on the source of funds. Crypto transfers will need to include identifying information for both the sender and recipient.
The measures are aimed at strengthening Ireland’s defences against money laundering, terrorist financing and other forms of financial crime and follow the publication of the country’s 2026 National Risk Assessment on Money Laundering, Terrorist Financing and Proliferation Financing.
The strategy will also seek greater transparency around company ownership and strengthen intelligence sharing between the Garda, Revenue, Criminal Assets Bureau, Central Bank of Ireland, government departments and financial institutions where money laundering is suspected.
Tánaiste and Minister for Finance Simon Harris described the strategy as the most significant strengthening of Ireland’s AML framework in years.
“It will give our law enforcement agencies stronger tools, improve intelligence sharing across the State, strengthen oversight of emerging risks and ensure Ireland continues to meet the highest international standards,” Harris said. “Today’s launch sends a clear message: Ireland will not be a safe place to launder criminal proceeds.”
Harris said the government will continue to pursue organised criminals, protect the financial system and safeguard Ireland’s reputation as a safe place to live and do business.
The Central Bank of Ireland is also examining the potential impact of artificial intelligence on AML efforts, including its use as a tool to detect suspicious activity and the risks it could create.
