Hong Kong: Beyond 1997 — The Importance of International Cooperation in the Fight against Corruption
| Date | 01 February 1997 |
| Published date | 01 February 1997 |
| Pages | 374-378 |
| DOI | https://doi.org/10.1108/eb025810 |
| Author | Mike Bishop |
| Subject Matter | Accounting & finance |
Journal of Financial Crime — Vol. 4 No. 4 — International
Hong Kong: Beyond 1997 — The Importance of
International Cooperation in the Fight against
Corruption
Mike Bishop
The aims of this paper are threefold: first, to
present a brief description of the history and work
of the Hong Kong Independent Commission
Against Corruption (ICAC); secondly, to empha-
sise the importance of international liaison and
cooperation as a strategy to transcend jurisdictional
barriers in the fight against corruption and corrup-
tion-related crime; and, thirdly, to reconfirm the
ICAC's continued role in and commitment to that
strategy beyond 1997.
1997 — BACK TO THE FUTURE
On 1st July, 1997, Hong Kong will revert to Chi-
nese sovereignty to become a Special Administra-
tive Region (SAR) of the People's Republic of
China (PRC). The rest of the world waits and
watches and speculates about the implications of
the transition. Will Hong Kong continue to main-
tain its status as one of the world's most thriving
and vibrant economies? To what extent will cul-
tural and political metamorphosis affect the SAR's
relationship with its international trading partners
and foreign governments?
What about the future security of Hong Kong?
Is there any reason to suppose that, beyond 1997,
the law enforcement agencies entrusted with the
task of maintaining law and order may not be able
to provide the same high standard of profession-
alism and effectiveness the people of Hong Kong
have rightly come to regard as their entitlement?
Or that the Hong Kong judicial system will be any
the less impartial or efficient than it is today? And
what of that most insidious and destructive of
social evils, corruption? Will a frantic scramble to
exploit the commercial opportunities generated by
Hong Kong's reunification with the PRC spawn a
black economy of such dimensions that the forces
of law and order will be unable to cope?
These questions — particularly on the topic of
corruption — reflect anxieties harboured by some
of the less optimistic Hong Kong watchers around
the world, and are among the most frequently
asked of those of us who live and work in the
territory. As the agency with sole responsibility for
the fight against corruption in Hong Kong, the
ICAC does not share those anxieties. This is not to
say that we are not concerned about corruption in
Hong Kong — merely that we do not doubt our
ability to continue to deal effectively with the
problem up to and beyond the transition of sover-
eignty.
THE ICAC — A BRIEF HISTORY
The ICAC was formed in 1974, at a time when
corruption in Hong Kong was endemic. The cata-
lyst that led to this historic event was a public
Page 374
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