The most significant overhaul of anti-money laundering regulations in decades has been announced.
It focuses on crypto and gambling, and as part of the changes casinos will face stricter regulation.
Casino clubs operating here will have to follow a new framework, with stricter enforcements of license conditions applied.
The Government is going to develop an industry standard relating to crypto currencies in betting, while it will become mandatory for casino customers to use one bank account to contribute and receive funds.
Separately, Crypto-currency transfers will soon require a greater level of detail to help trace unusual activity, the Department of Finance says legislation underping this is ‘well advanced’.
Tanaiste and Finance Minister Simon Harris says it sends a clear message that Ireland is not a safe place to launder criminal proceeds.
