The Hong Kong International Academy Against Corruption (HKIAAC) today (March 22) concluded a two-day programme for the local banking sector, titled “Professional Anti-corruption Training in Banking Management” which set to strengthen the industry’s integrity governance and anti-corruption capabilities. And in view of the rapid business development of local banks in the Mainland, for the first time the National Financial Regulatory Administration (NFRA) was invited to conduct an online session to share the regulatory work of Mainland’s banking industry as well as relevant regulations to enhance participants’ understanding of the Mainland’s financial regulatory system.

ICAC’s Director of Corruption Prevention Bryan Chong Ka-lok, today presented course certificates to senior banking managers who had completed the course. Speaking at the ceremony, Chong expressed his gratitude to the NFRA and the Hong Kong Monetary Authority (HKMA) for their support for the work of the ICAC, and for sending representatives to share with participants the development and their experience in financial regulatory work.

“As an international financial hub, Hong Kong has the distinctive advantage of enjoying strong support from the Mainland and being closely connected to the world. The banking sector plays a pivotal role in financial activities and in maintaining a stable development of the economy. In order to cope with the complex and ever-changing financial environment and corrupt practices, the ICAC will continue to collaborate with regulatory agencies, including the HKMA, to strengthen the anti-corruption capability of the banking industry,” said Chong.

Executive Director (Banking Policy) of the HKMA and guest of honour of today’s closing ceremony Donald Chen Yee remarked that the HKMA attached great importance to the conduct of the banking industry and the course would facilitate the sector to formulate integrity management strategies to further reduce corruption risks.

“Prevention is always better than cure. Instead of investing significant manpower and resources in investigation work and remedial actions, we should focus on prevention policies and education, nurturing honest and responsible banking professionals in order to minimise corruption risks,” said Chen.

The two-day programme was attended by managers from about 30 locally licensed banks, whose purviews included legal and compliance, internal audit, anti-money laundering and risk management.

The course featured sharing by veteran ICAC investigators on the corruption scene and common modus operandi in the banking sector through analysis of case scenario adapted from ICAC investigations. The ICAC’s forensic accounting experts also shared with participants their work in relation to financial investigation and detecting corruption and related crimes. On the preventive front, officers of the Corruption Prevention Department hosted exchange sessions with participants on the importance of integrity risk management, anti-corruption controls as well as enhancing corruption prevention capabilities through digitalisation and IT applications. Participants also heard from officers of the Community Relations Department the keys to minimising the risk of violation of regulations, as well as the importance of promoting a probity culture in banks. In addition, the HKMA was invited to share how to promote integrity management in the banking industry.