New anti-money laundering rules target gambling industry
New anti-money laundering rules are set to be introduced as part of a wide-reaching nationwide crackdown.
The Irish government plans to introduce new anti-money laundering rules as part of a nationwide crackdown, targeting criminal gangs and terrorist organisations attempting to legitimise their funds through the gambling industry, cryptocurrencies, and other methods. Tánaiste and Minister for Finance Simon Harris will unveil the rules as part of Ireland's first national anti-money laundering strategy, signaling that the country will not be a safe place for laundered criminal proceeds.
The strategy, based on recent plans and updated anti-money laundering EU laws, aims to strengthen Ireland's defenses against money laundering, terrorist financing, and other criminal activities. It will include stricter rules for cryptocurrency assets and transfers, increased transparency in company ownership structures, and improved intelligence sharing between government departments, the Gardaí, Revenue, the Criminal Assets Bureau, the Central Bank, and financial institutions suspected of money laundering.
The strategy seeks to enhance oversight of vulnerable areas, such as the gambling sector, and ensure Ireland continues to meet international anti-money laundering standards. Harris emphasized that the changes will provide law enforcement agencies with stronger tools, improve intelligence sharing across the state, and bolster oversight of emerging risks, reaffirming Ireland's commitment to protecting its financial system and maintaining its reputation as a safe and trusted place in Europe.
Written by urgent.news from RTE News's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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