Closer collaboration, sound regulations and departure from greed to guard citizens’ interests, ICAC chief urges
2009-12-17
ICAC Commissioner Dr Timothy Tong Hin-ming today (Thursday) called for sound regulations, closer partnerships between the private sector and law enforcement, and a departure from greed mentality to guard the interests of the ordinary citizens who will be victimized by corporate fraud and corruption.
Speaking at the closing ceremony of the Fourth ICAC Symposium, entitled “Deals Under the Table –'96 the Doing or Undoing of Business?” , Dr Tong said no jurisdiction was immune from private sector fraud and corruption and ordinary people worldwide demanded cleaner businesses.
To combat such crimes which knew no boundaries, the Commissioner suggested that in investigating and tracing suspected offenders or ill gotten proceeds, law enforcement agencies should strengthen cross-jurisdiction collaboration through informal and proac tive mutual assistance which facilitates exchange of information.
He also called upon delegates to explore within their mutual assistance frameworks special mechanisms to narrow down differences in laws and regulations, corporate governance standards and ethical compliance programmes.
While absolute uniformity across jurisdictions is neither practicable nor realistic, Dr Tong urged that different jurisdictions should closely examine how loopholes left by differences among various legal, regulatory and business systems could be closed.
The ICAC Commissioner also advocated enhanced cooperation in the sharing of prevention, education and research initiatives, as there was obvious benefit in having graft-fighters and financial regulators to jointly draw up corporate ethical standards and b est practice guidelines.
In a recent initiative, the ICAC and the Guangdong authorities have jointly produced corruption prevention guidebooks for small and medium enterprises investing in Hong Kong and the Guangdong Province. The ICAC has also established its Centre of Anti-Cor ruption Studies to help forecast future trends in corruption activities locally and globally.
The three-day symposium, jointly hosted by the ICAC and the European Anti-Fraud Office (OLAF) of the European Commission, featured 31 speakers from overseas and local law enforcement agencies, regulatory bodies, as well as eminent international organizati ons.
The symposium was attended by about 400 delegates from 38 jurisdictions and international organisations, including the Mainland, Macao, the United States, the United Kingdom, France, Germany, Portugal, Sweden, Ukraine, Kenya, Nigeria, Uganda, Tanzania, Au stralia, Iceland, Singapore, Japan, Thailand, Malaysia, Transparency International, European Investment Bank and Asian Development Bank.
Following the closing ceremony of the symposium, about 100 delegates visited the ICAC Building this afternoon to acquaint themselves with Hong Kong’s anti-graft strategy.
They toured various facilities of the ICAC, including the Exhibition Hall, the Centre of Anti-Corruption Studies, the Detention Centre, the Identification Parade Room and a Video Interview Room.
Speaking at the closing ceremony of the Fourth ICAC Symposium, entitled “Deals Under the Table –'96 the Doing or Undoing of Business?” , Dr Tong said no jurisdiction was immune from private sector fraud and corruption and ordinary people worldwide demanded cleaner businesses.
To combat such crimes which knew no boundaries, the Commissioner suggested that in investigating and tracing suspected offenders or ill gotten proceeds, law enforcement agencies should strengthen cross-jurisdiction collaboration through informal and proac tive mutual assistance which facilitates exchange of information.
He also called upon delegates to explore within their mutual assistance frameworks special mechanisms to narrow down differences in laws and regulations, corporate governance standards and ethical compliance programmes.
While absolute uniformity across jurisdictions is neither practicable nor realistic, Dr Tong urged that different jurisdictions should closely examine how loopholes left by differences among various legal, regulatory and business systems could be closed.
The ICAC Commissioner also advocated enhanced cooperation in the sharing of prevention, education and research initiatives, as there was obvious benefit in having graft-fighters and financial regulators to jointly draw up corporate ethical standards and b est practice guidelines.
In a recent initiative, the ICAC and the Guangdong authorities have jointly produced corruption prevention guidebooks for small and medium enterprises investing in Hong Kong and the Guangdong Province. The ICAC has also established its Centre of Anti-Cor ruption Studies to help forecast future trends in corruption activities locally and globally.
The three-day symposium, jointly hosted by the ICAC and the European Anti-Fraud Office (OLAF) of the European Commission, featured 31 speakers from overseas and local law enforcement agencies, regulatory bodies, as well as eminent international organizati ons.
The symposium was attended by about 400 delegates from 38 jurisdictions and international organisations, including the Mainland, Macao, the United States, the United Kingdom, France, Germany, Portugal, Sweden, Ukraine, Kenya, Nigeria, Uganda, Tanzania, Au stralia, Iceland, Singapore, Japan, Thailand, Malaysia, Transparency International, European Investment Bank and Asian Development Bank.
Following the closing ceremony of the symposium, about 100 delegates visited the ICAC Building this afternoon to acquaint themselves with Hong Kong’s anti-graft strategy.
They toured various facilities of the ICAC, including the Exhibition Hall, the Centre of Anti-Corruption Studies, the Detention Centre, the Identification Parade Room and a Video Interview Room.