Key facts
- Ireland has launched a 30-point action plan to combat financial crime.
- The plan places a significant focus on crypto-assets.
- Enhanced safeguards will be implemented for crypto-assets.
- Stricter due diligence standards are required for crypto funds.
- The plan aims to counter criminals' use of new technologies.
Ireland has unveiled a comprehensive 30-point action plan aimed at intensifying its fight against financial crime. A central component of this strategy is a dedicated focus on crypto-assets, reflecting concerns about their potential misuse by illicit actors. The plan mandates enhanced safeguards and elevates due diligence standards specifically for crypto funds. The objective is to ensure that Ireland's regulatory framework can effectively keep pace with the rapid adoption of new technologies by criminals seeking to exploit financial systems. This proactive approach seeks to preemptively address emerging threats and maintain the integrity of the Irish financial sector.