By PAUL O’DONOGHUE, Senior Correspondent
IRELAND has launched its first national anti-money laundering strategy, setting out a series of reforms aimed at tackling financial crime.
The government said the strategy is the “most significant strengthening of Ireland’s financial crime framework in years”.
Key reforms include:
- Strengthening AML rules for crypto-assets and crypto transfers. These include enhanced checks on transfers involving private crypto wallets and stricter due diligence when dealing with overseas crypto firms.
- Increasing transparency around company ownership via a Central Register of Beneficial Ownership.
- Increasing oversight of areas vulnerable to money laundering, including the gambling sector.
- Strengthening intelligence sharing between Government departments. These include An Garda Síochána (Irish police), Revenue (tax agency), FIU Ireland, the Criminal Assets Bureau, the Central Bank and financial institutions.
- Enhancing Ireland’s ability to detect cyber-enabled fraud, sanctions evasion and other emerging financial crime threats.
- Implementing the European Union’s new anti-money laundering legislative package.
Ireland money laundering reforms
Simon Harris, Irelanad’s Tánaiste (deputy prime minister)and Minister for Finance, said the reforms would help Ireland respond to increasingly sophisticated financial crime threats.
“Criminal 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,” Harris said.
The strategy is built around five priorities:
- Strengthening national coordination.
- Better identifying and understanding of financial crime risks.
- Delivering a stronger regulatory framework.
- Building capability across Government and the private sector.
- Enhancing international cooperation.
The strategy follows the publication of Ireland’s 2026 National Risk Assessment on money laundering, terrorist financing and proliferation financing, alongside a related priority action plan.
Mr Harris said implementation was already underway and would involve Government departments, law enforcement agencies, regulators and the private sector.
“Today’s launch sends a clear message: Ireland will not be a safe place to launder criminal proceeds,” he said.
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