Reports have begun circulating in local Irish media that the Government will tighten up regulations for casino-style venues and cryptocurrency investment funds to tackle financial crime and money laundering.
This would reportedly involve expanded powers for regulators and anti-money-laundering supervisors to impose strict penalties on violators of money-laundering rules, as well as additional transparency requirements for companies.
Plans also include enhancing data sharing on suspicious financial activities among state agencies to expedite the process of catching criminals.
Casino-style gambling venues are anticipated to be impacted. This includes a new requirement for private members’ gambling clubs to obtain a specific license and be regulated more tightly, similar to other gambling establishments.
Other gambling operators will reportedly be required to introduce a 'closed-loop' system, meaning winnings must be returned to the same account from which deposits were made.
The Government is allegedly committed to establishing a national task force for coordinating efforts against terrorist financing and sanctions evasion.
Other reported recommendations include enabling money-laundering investigations to proceed alongside tax and excise investigations, and reviewing existing rules that allow the concealment of company ownership.
The report also recommends ensuring that banks and financial firms keep pace with technological advancements.
The plan comes alongside an updated National Risk Assessment, which found an overall moderate threat of money laundering in Ireland and a low threat of terrorist financing.
The 30 recommendations from the plan are set to be launched soon by Tánaiste Simon Harris and Justice Minister Jim O’Callaghan.
This latest development coincides with a significant turning point for the gambling industry in Ireland.
Following the passage of the Gambling Regulation Act 2024, a new, modern framework is being implemented across the sector.
Online betting turnover in Ireland has exceeded €1.2bn ($1.4bn) for Q1 2026, according to figures released by Ireland’s tax authority
