Graft fighter: ICAC Commissioner Raymond Wong calls for greater global efforts to combat corporate corruption.

Independent Commission Against Corruption Commissioner Raymond Wong says the anti-graft body will add an 11-member team of financial investigators this year to tackle the growing complexity of corporate cases.

Speaking at the opening ceremony of the third ICAC Symposium today, Mr Wong called for greater global efforts to combat corporate corruption, which has become increasingly transnational and complex due to globalisation and rapid technology advances.

He said the ICAC is concerned about a number of serious corporate corruption and fraud cases recently. In the last five years it initiated prosecutions in relation to 17 corporate corruption and fraud cases involving over $10 million each. Some involved listed companies, raising much public concern. Of those prosecuted in private sector cases, about 60% were senior executives or professionals.

Apart from strict law enforcement, the ICAC will enhance publicity and prevention efforts and international co-operation to ensure Hong Kong remains a premier international financial centre.