The Hong Kong Association of Banks (HKAB) works with the Corruption Prevention Department (CPD) of Hong Kong Independent Commission Against Corruption (ICAC) to promote corruption prevention practices and foster a high standard of ethical culture and integrity in the banking industry. Members may find out more details of the corruption prevention resources / services as follows:
1. Banking Industry Integrity Charter
Fully supported by the HKAB and the Hong Kong Monetary Authority (HKMA), the ICAC launched the Banking Industry Integrity Charter (Integrity Charter) to encourage the sector to implement an integrity management system and continue to enhance anti-corruption capabilities to sustain Hong Kong’s status as a clean international financial centre.
Through public-private partnership, the Integrity Charter aims to combat and prevent corruption proactively, assist banks to enhance their integrity management system, and continuously strengthen corruption prevention awareness and capabilities of banks. In accordance with the Integrity Charter, participating banks are required to promote a sound bank culture, establish a code of conduct, assign an integrity officer to assist in implementing good governance, provide integrity training to staff, as well as reporting suspected corruption, fraud and other illegal activities to the ICAC or other law enforcement agencies promptly.
For details of the Integrity Charter and the subscription procedures, please visit: https://cpas.icac.hk/EN/Info/TP_Library?cate_id=10046.
2. Corruption Prevention Guide
In collaboration with HKAB and other relevant organisations, CPD has developed the Corruption Prevention Guide for Banks (the Guide) for the banking sector. The Guide aims at providing a user-friendly and informative reference for banks and practitioners to enhance their awareness of the anti-corruption laws applicable to their business environment, with the common corruption loopholes/malpractices in the banking operations illustrated and preventive safeguards recommended.
The Guide contains a number of easily understandable case studies based on complaints received and/or convicted case scenarios, etc, to illustrate the anti-bribery law and corruption risks under different scenarios which banks may encounter in their working environment. Based on the detailed analysis of such case studies, the Guide features common corruption risks, malpractices and red flags, and provides corresponding practicable safeguards in the core operations of banks, including management of bank accounts, credit facility and loan services, sales process and wealth management. Besides, apart from the generic corruption prevention controls, the Guide highlights controls against corruption-related money laundering, and provides examples of measures where technology may be adopted to reduce corruption risks and enhance efficiency in their banking operations. CPD also stands ready to provide banks in Hong Kong with corruption prevention service and tailor-made advice on the Guide upon request.
3. Corruption Prevention Advisory Service
CPD's designated group "Corruption Prevention Advisory Service" (CPAS) provides free, confidential and tailor-made advice to private sector companies/organisations on corruption prevention. For details, please visit: cpas.icac.hk.
