{"id":592005,"date":"2026-08-13T12:32:11","date_gmt":"2026-08-13T12:32:11","guid":{"rendered":"https:\/\/www.newsbeep.com\/ie\/592005\/"},"modified":"2026-08-13T12:32:11","modified_gmt":"2026-08-13T12:32:11","slug":"insight-ireland-launches-first-national-aml-strategy-here-are-the-key-financial-crime-reforms","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ie\/592005\/","title":{"rendered":"INSIGHT: Ireland launches first national AML strategy \u2014 here are the key financial crime reforms"},"content":{"rendered":"

By PAUL O\u2019DONOGHUE, Senior Correspondent<\/p>\n

IRELAND has launched its first national anti-money laundering strategy, setting out a series of reforms aimed at tackling financial crime.<\/p>\n

The government said the strategy is the \u201cmost significant strengthening of Ireland\u2019s financial crime framework in years\u201d.<\/p>\n

Key reforms include:<\/p>\n

Crypto<\/p>\n

Strengthening AML rules for crypto-assets and crypto transfers. <\/p>\n

These include enhanced checks on transfers involving private crypto wallets and stricter due diligence when dealing with overseas crypto firms.<\/p>\n

Gambling<\/p>\n

Gambling companies must adopt a \u2018closed loop\u2019 system. This is where payments to customers are made using the same payment account used for depositing funds.<\/p>\n

Casino clubs operating machine-based gambling will be brought under a more \u2018robust\u2019 AML framework. The government did not specify what this will include.<\/p>\n

Officials will establish \u2018a source of funds\u2019 standard relating to the acceptance of crypto-related activities. This is to ensure appropriate due diligence is performed.<\/p>\n

Beneficial ownership<\/p>\n

The state will establis three Registers of Beneficial Ownership information. The three organisations are \u2013 the Central Bank, Revenue (tax agency) and the Companies Registration Office.<\/p>\n

Establish a a single point of access to real estate information (as per the EU\u2019s latest AML Directive)<\/p>\n

Sanctions<\/p>\n

The Department of Finance will establish a listing proposal form to be used by National Competent Authorities when submitting proposed designations of persons to the EU or the UN Security Council.<\/p>\n

The government will introduce enhanced information sharing arrangements between supervisory bodies and law enforcement around sanctions.<\/p>\n

Ireland money laundering reforms<\/p>\n

Simon Harris, Irelanad\u2019s T\u00e1naiste (deputy prime minister)and Minister for Finance, said the reforms would help Ireland respond to increasingly sophisticated financial crime threats.<\/p>\n

\u201cCriminal organisations are exploiting new technologies, crypto-assets and complex international financial networks to conceal criminal profits. [The] government must continue to stay ahead of those threats,\u201d Harris said.<\/p>\n

The strategy focuses on five priorities:<\/p>\n

Strengthening national coordination.<\/p>\n

Better identifying and understanding of financial crime risks.<\/p>\n

Delivering a stronger regulatory framework.<\/p>\n

Building capability across Government and the private sector.<\/p>\n

Enhancing international cooperation.<\/p>\n

The strategy follows the publication of Ireland\u2019s 2026 National Risk Assessment<\/a> on money laundering, terrorist financing and proliferation financing, alongside a related priority action plan.<\/p>\n

Mr Harris said implementation was already underway and would involve Government departments, law enforcement agencies, regulators and the private sector.<\/p>\n

\u201cToday\u2019s launch sends a clear message: Ireland will not be a safe place to launder criminal proceeds,\u201d he said.<\/p>\n

\"AMLWe hope you enjoyed reading this article<\/p>\n

If you would like unlimited access to AML Intelligence premium articles, newsletter delivered twice a week, access to our Global Bank Fines and Penalties database, free access to Boardroom Series events and much more, select one of our subscription options and become a subscriber!<\/p>\n

View subscription options<\/a>If you have an account, log in<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"By PAUL O\u2019DONOGHUE, Senior Correspondent IRELAND has launched its first national anti-money laundering strategy, setting out a series…\n","protected":false},"author":2,"featured_media":424394,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[115436,61,60,21105,43,70],"class_list":["post-592005","post","type-post","status-publish","format-standard","has-post-thumbnail","category-ireland","tag-aml","tag-ie","tag-ireland","tag-money-laundering","tag-news","tag-simon-harris"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/592005","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=592005"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/592005\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/424394"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=592005"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=592005"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=592005"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}