Government Launches 30-Point Action Plan to Combat Financial Crime, Money Laundering and Terrorist Financing

Dublin: The Irish government has unveiled a comprehensive 30-point action plan aimed at strengthening the fight against financial crime, money laundering, and terrorist financing across the country.

Minister for Finance Simon Harris and Minister for Justice Jim O’Callaghan jointly announced the new measures, which focus on improving intelligence-sharing between state agencies, enhancing oversight of emerging sectors such as crypto-assets and gambling, and increasing transparency around company ownership and control.

A key objective of the strategy is to ensure that financial institutions remain equipped to respond to rapidly evolving technologies, including artificial intelligence and cryptocurrencies, preventing their misuse by criminal networks.

As part of the initiative, a dedicated national coordination group will be established, bringing together representatives from the Defence Forces, An Garda Síochána, the Central Bank, and Revenue. The group will work collaboratively to strengthen efforts against terrorist financing, money laundering, and other forms of financial crime.

The action plan has been published alongside Ireland’s latest National Risk Assessment (NRA) on money laundering, terrorist financing, and proliferation financing.

According to the assessment, the risk of money laundering has increased since 2019 in several sectors, including crypto-asset service providers, fund management companies, and remote betting operators. The report highlights growing concerns over the potential use of these sectors for money laundering and the financing of terrorism and weapons proliferation.

Speaking at the launch, Minister Harris stressed that financial crime has far-reaching consequences beyond the immediate offences.

Minister O’Callaghan described the 30-point action plan as a practical and coordinated response to the threats identified in the National Risk Assessment.

“This plan provides a comprehensive overview of the risks facing Ireland and sets out a clear roadmap for strengthening cooperation between government departments, law enforcement agencies, regulators, and industry stakeholders,” he said.

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