Ireland’s Ministry of Finance is set to launch a new anti-money laundering and counter-terrorism financing strategy on August 20, 2026, in an attempt to put tighter controls on payment flows in the gambling industry. Under the new framework, gambling operators will be ordered to work in a closed-loop model, returning withdrawals only to the same
Ireland’s Ministry of Finance is set to launch a new anti-money laundering and counter-terrorism financing strategy on August 20, 2026, in an attempt to put tighter controls on payment flows in the gambling industry.
Under the new framework, gambling operators will be ordered to work in a closed-loop model, returning withdrawals only to the same account used for deposits, which will prevent players from moving funds through unrelated channels. Additionally, machine-based casino clubs will face greater supervision, as the government has expressed concerns that betting and gaming businesses are vulnerable to transaction patterns that are hard to trace.
The Minister of Finance, Simon Harris, stated:
“The strategy underpins the most significant strengthening of Ireland’s anti-money laundering 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. Today’s launch sends a clear message: Ireland will not be a safe place to launder criminal proceeds.”
At the same time, cryptocurrencies will be another central point of the strategy, and operators will be required to conduct stronger due diligence on the source of funds, while the transfers will have to include identification for the sender and the recipient.
Through the system, intelligence sharing between different agencies will also be improved, with the Garda, the Financial Intelligence Unit, Revenue, the Criminal Assets Bureau, and Ireland’s Central Bank all expected to cooperate.