Ireland Tightens Crypto Safeguards in New Financial Crime Action Plan
Ireland has launched a new National Risk Assessment on money laundering, terrorist financing, and proliferation financing, plus a 30-point action plan to strengthen financial-crime controls. The plan specifically targets crypto-assets and digital finance, with the most concrete measure requiring the Gambling Regulatory Authority to set an industry standard for accepting crypto-related activity as a source of funds, including due diligence checks, by Q2 2027. The Central Bank must also deepen its understanding of emerging technologies such as AI and their AML risks and uses. The wider package adds tougher supervision, new fine powers for AML regulators, mandatory licensing for private gambling clubs, a closed-loop rule for gambling payouts, greater transparency on beneficial ownership, and new tools for tax-linked money-laundering probes. Officials said criminals are using crypto, money-mule networks, and complex layering techniques, and that the plan prepares Ireland for its 2028 FATF evaluation.
