Ireland's AML Strategy Targets Crypto and Company Ownership

The rule changes hit the crypto sector directly. The plan strengthens anti-money laundering rules for crypto-assets and digital transfers to make anonymous movement of funds more difficult, and it delivers Ireland's implementation of the European Union's new anti-money laundering legislative package.

Company ownership is the other pillar. New disclosure requirements for limited partnerships and higher-risk corporate vehicles are designed to stop criminals hiding behind complex structures. The government also plans to modernize financial intelligence capabilities and strengthen intelligence sharing between departments. The plan also targets cyber-enabled fraud and sanctions evasion. Oversight of vulnerable sectors, including gambling, will be tightened.

The strategy supports Ireland's preparation for its upcoming mutual evaluation by the Financial Action Task Force. Department officials said implementation is already underway through cooperation between government departments, law enforcement, regulators, and the private sector.

"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."

The same week, the Criminal Assets Bureau reportedly pulled another 500 bitcoin out of a decade-dormant wallet.