The Gambling Regulatory Authority of Ireland has signed a Memorandum of Understanding to commence its partnership with the Gibraltar Gambling Commission. This will strengthen cross-border regulation in the gambling sector. 

The latest agreement is a major milestone in Ireland’s plans to launch its newly regulated gambling market. It was signed in Dublin by Anne Marie Caulfield, CEO of GRAI, and Andrew Lynam, Gibraltar’s Gambling Commissioner, establishing a collaborative framework between the two regulatory bodies. 

This move will facilitate the exchange of information and coordinated regulation of gambling operators with licences across both jurisdictions. “This Memorandum of Understanding is a significant step in formalising the working relationship between regulators in Ireland and Gibraltar,” Caulfield said. His statement highlights the need for cross-border alignment as operators frequently operate in multiple countries.

Laying the Groundwork for Licensing in Ireland

This agreement marks the third MoU signed by GRAI in recent months, as it prepares for the initial phase of licensing under the country’s new legislation. The authority has hinted at partnerships with other international regulators in the coming months to support the framework implementation and supervise licensed entities beyond national borders. 

The GRAI has expressed appreciation for Gibraltar’s role in Ireland’s early regulatory development. Caulfield thanked Lynam and his team for their continued support and assistance after the MoU signing. 

Enhancing Oversight in a Global Industry

This MoU will promote coordinated supervision and consumer protection by fostering information-sharing and mutual support across the jurisdictions. As the gambling industry becomes increasingly global, regulators must collaborate to address risks like illegal operations, responsible gambling compliance, and anti-money laundering.

Ireland and Gibraltar’s joint efforts will create a more consistent regulatory environment for gambling companies with transnational operations. This collaboration is critical to preserving the integrity of their respective markets.

Additional Safeguards in the Financial Sector

To further address gambling-related harms, the Bank of Ireland recently introduced a gambling block feature allowing customers to restrict transactions directly from their bank accounts. This measure complements the current regulatory initiatives and reflects higher emphasis on consumer protection across multiple sectors. 

With the licensing phase approaching, the GRAI is focused on building strong international partnerships to ensure a safe gambling environment in Ireland. These collaborations support better regulation, help address cross-border risks, and lay the foundation for high regulatory standards from the outset.