Ireland Targets Gambling Payments and Crypto in First National AML Strategy

Abigail Welch

Ireland has included gambling among the sectors facing stronger anti-money laundering (AML) oversight under its first national AML, Countering Financing of Terrorism and Countering Proliferation Financing Strategy.

Launched on 13 August by Tánaiste and Minister for Finance Simon Harris, the strategy sets out a broader plan to strengthen Ireland’s financial crime framework, with several measures directly affecting gambling operators.

Four gambling-specific actions have been assigned to the Gambling Regulatory Authority of Ireland (GRAI), all with a Q2 2027 deadline.

The measures will:

1. Bring machine-based casino clubs under a stronger regulatory and AML framework.

2. Introduce an industry standard for accepting crypto-related funds, including source-of-funds checks.

3. Require gambling operators to introduce closed-loop payments, meaning customer withdrawals must generally be returned through the same payment account used to deposit.

4. Make private members’ clubs offering gambling subject to mandatory licensing.

The crypto measure builds on existing AML requirements, with the new standard intended to create a consistent approach to verifying funds originating from crypto activity.

The strategy also aligns Ireland with the EU’s wider AML reforms, including new requirements around crypto-asset transfers and the Travel Rule, which requires information about senders and recipients to accompany transactions.

GRAI set for expanded AML role

Irish gambling operators have been subject to AML obligations since 2018 and are already required to carry out customer due diligence, monitor transactions and report suspicious activity.

However, AML supervision currently sits with the Department of Justice’s Anti-Money Laundering Compliance Unit. The Gambling Regulation Act 2024 is expected to transfer this responsibility to the GRAI, although the relevant provision has not yet been commenced.

The new implementation plan indicates that the GRAI will take a central role in enforcing the gambling-related measures by Q2 2027.

The Authority already has significant enforcement powers under the 2024 Act, including the ability to fine licensed operators up to €20 million or 10% of turnover, whichever is higher.

**Focus on payments and financial transparency**

The closed-loop payment requirement could represent one of the most significant operational changes for operators. By requiring withdrawals to return through the payment method used for deposits, regulators aim to strengthen the traceability of funds moving through gambling accounts.

The government’s focus on crypto also reflects the growing use of digital assets within financial services and gambling. Operators will face greater expectations around establishing the legitimacy and source of crypto-linked funds.

Ireland is preparing for its next FATF Mutual Evaluation in 2028, and the government says the implementation plan is designed to demonstrate measurable progress ahead of that assessment.

For Irish gambling operators, the strategy signals a move towards tighter oversight, greater payment transparency and more formalised controls around emerging sources of funds.