Key Takeaways
- On Aug. 13, Simon Harris launched Ireland’s 5-priority anti-money laundering plan.
- New rules target crypto assets and higher-risk firms across 5 key areas.
- Next, Ireland will align with new EU laws to prepare for its 2026 FATF evaluation.
Alignment with Risk Assessment and Strategic Goals
Ireland unveiled its first national anti-money laundering strategy Aug. 13, introducing new rules for crypto-assets and cryptocurrency transfers to prevent criminals from moving illicit funds anonymously.
Launched by Irish Deputy Prime Minister and Minister for Finance Simon Harris, the strategy underpins the most significant strengthening of Ireland’s financial crime framework in years. It aims to deliver a whole-of-government approach to prevent criminals, fraudsters and terrorist financiers from exploiting the state’s financial system.
“Criminal organisations are becoming increasingly sophisticated,” Harris said in a statement. “They are exploiting new technologies, crypto-assets and complex international financial networks to conceal criminal profits. Government must continue to stay ahead of those threats.”
Preparation of the strategy follows the recently published 2026 National Risk Assessment on Money Laundering, Terrorist Financing and Proliferation Financing, alongside its associated Priority Action Implementation Plan. Built around five strategic priorities—strengthening national coordination, better understanding risks, delivering a stronger regulatory framework, building capability, and enhancing international cooperation—the initiative sets out several key reforms.
These include strengthening anti-money laundering rules for crypto-assets and digital transfers to make anonymous movement of funds more difficult, as well as delivering Ireland’s implementation of the European Union’s new anti-money laundering legislative package.
It also seeks to increase transparency around company ownership and introduce new disclosure requirements for limited partnerships and higher-risk corporate vehicles to stop criminals from hiding behind complex corporate structures. The government also wants to modernize financial intelligence capabilities and enhance the State’s ability to detect cyber-enabled fraud, sanctions evasion, and emerging financial crime threats.
Strengthening intelligence sharing between government departments and the supervision of financial institutions, and improving oversight of vulnerable sectors, including gambling.
According to a statement, the strategy is also designed to support Ireland’s preparations for its upcoming mutual evaluation by the Financial Action Task Force (FATF).
“Today’s launch sends a clear message: Ireland will not be a safe place to launder criminal proceeds,” Harris said. “We will continue to pursue organised criminals, protect our financial system and safeguard Ireland’s reputation as one of the safest and most trusted places in Europe to live, work and do business.”
Department officials confirmed that implementation of the strategy is already underway through cooperation between government departments, law enforcement, regulators, and the private sector.
