ICAC strives to maintain level playing field for businesses through comprehensive strategy
2006-11-4
The Independent Commission Against Corruption (ICAC) strives to maintain a level playing field for businesses through a double-barrel strategy in vigorously fighting corruption in both the public and private sectors.
The latest issue of ICAC newsletter –'96 ICAC Post –'96 notes that this dual approach is strongly advocated by the United Nations Convention Against Corruption, which came into force late last year.
The electronic newsletter is one of the Commission's recent initiatives to keep businessmen and investors regularly updated on Hong Kong's corruption situation and anti-corruption endeavours.
In recent years, corruption reports concerning the private sector had recorded a downward trend, dropping by six per cent from 2,403 in 2002 to 2,247 in 2005.
In the first nine months of this year, such reports totalled 1,463, representing a decrease of nine per cent compared to 1,605 reports in the corresponding period last year.
Among these 1,463 reports, 40% were related to building management, 9% concerned finance and insurance, and 7% were about catering and entertainment. Another 6% concerned construction, while other 5% were about transport and related services. The remain ing 33% were related to other industries.
"Globalization and rapid advances in information technology have made private sector cases increasingly sophisticated," said ICAC Director of Investigation (Private Sector) Francis Lee Chun-sang.
"To enhance our investigative edge, we have further strengthened the capability of our Financial Investigation Section (FIS) and Computer Forensics Section (CFS) in handling complex cases," he said.
In the first nine months of this year, FIS investigated 7,789 financial transactions involving $5.1 billion in total. Another specialist group, CFS, conducted 237 computer data analyses during the same period.
In view of globalisation and closer economic ties with the Mainland, the ICAC will launch a corruption prevention guidebook on cross-boundary operations for the banking and financial sectors, and an information package on local anti-bribery laws and servi ces for new investors in Hong Kong.
The ICAC has earlier produced a corruption prevention kit on cross-boundary business to familiarise investors and managers with the relevant laws in the Mainland and Hong Kong.
In the past three years, the ICAC has conducted over 4,200 training talks for more than 20,000 managerial and 100,000 frontline staff of major corporations, multinational firms, Mainland-funded companies as well as small and medium sized enterprises.
Also featured in the newsletter is a completed ICAC case relating to an international bribery scam involving $6 million in illegal commissions.
The newsletter will be distributed to various chambers of commerce, consulates, international research institutes and other relevant bodies locally and abroad.
Members of the public may access the newsletter on the ICAC website ( http://www . icac.org.hk).
The latest issue of ICAC newsletter –'96 ICAC Post –'96 notes that this dual approach is strongly advocated by the United Nations Convention Against Corruption, which came into force late last year.
The electronic newsletter is one of the Commission's recent initiatives to keep businessmen and investors regularly updated on Hong Kong's corruption situation and anti-corruption endeavours.
In recent years, corruption reports concerning the private sector had recorded a downward trend, dropping by six per cent from 2,403 in 2002 to 2,247 in 2005.
In the first nine months of this year, such reports totalled 1,463, representing a decrease of nine per cent compared to 1,605 reports in the corresponding period last year.
Among these 1,463 reports, 40% were related to building management, 9% concerned finance and insurance, and 7% were about catering and entertainment. Another 6% concerned construction, while other 5% were about transport and related services. The remain ing 33% were related to other industries.
"Globalization and rapid advances in information technology have made private sector cases increasingly sophisticated," said ICAC Director of Investigation (Private Sector) Francis Lee Chun-sang.
"To enhance our investigative edge, we have further strengthened the capability of our Financial Investigation Section (FIS) and Computer Forensics Section (CFS) in handling complex cases," he said.
In the first nine months of this year, FIS investigated 7,789 financial transactions involving $5.1 billion in total. Another specialist group, CFS, conducted 237 computer data analyses during the same period.
In view of globalisation and closer economic ties with the Mainland, the ICAC will launch a corruption prevention guidebook on cross-boundary operations for the banking and financial sectors, and an information package on local anti-bribery laws and servi ces for new investors in Hong Kong.
The ICAC has earlier produced a corruption prevention kit on cross-boundary business to familiarise investors and managers with the relevant laws in the Mainland and Hong Kong.
In the past three years, the ICAC has conducted over 4,200 training talks for more than 20,000 managerial and 100,000 frontline staff of major corporations, multinational firms, Mainland-funded companies as well as small and medium sized enterprises.
Also featured in the newsletter is a completed ICAC case relating to an international bribery scam involving $6 million in illegal commissions.
The newsletter will be distributed to various chambers of commerce, consulates, international research institutes and other relevant bodies locally and abroad.
Members of the public may access the newsletter on the ICAC website ( http://www . icac.org.hk).