To tackle the menace of global grand corruption, Singapore’s Corrupt Practices Investigation Bureau (CPIB) has joined law enforcement agencies from Australia, Canada, New Zealand, UK and USA in launching a new International Anti-Corruption Coordination Centre (IACCC). It is the first multinational centre intended to coordinate law enforcement action against global grand corruption.
The London-based IACCC is envisaged to improve information-sharing by bringing together specialist law enforcement officers from multiple jurisdictions into a single location. It is being hosted by the National Crime Agency (NCA) of United Kingdom and will continue till 2021.
Issuing a press release, CPIB said, “Grand corruption includes acts of corruption by politically exposed persons that may involve vast quantities of assets, and those that threaten political stability and sustainable development. These can comprise bribery of public officials, embezzlement, abuse of functions or the laundering of the proceeds of crime. Such acts increase poverty and inequality, undermine good business and threaten the integrity of financial markets.”
The new centre IACCC will improve fast-time intelligence sharing, assist countries that have suffered grand corruption and help bring corrupt elites to justice.
The release said, “Recognising the importance of addressing corruption at all levels as well as across borders, Singapore had agreed with the intent to establish the IACCC and has worked with other interested parties on its establishment. As part of its commitment as a founding member of the IACCC, CPIB will be contributing an officer to serve at the IACCC.”
It added, “The CPIB has good relations with and continues to work closely with our foreign counterparts in the investigation of corruption offences through operational channels and mutual legal assistance arrangements. Participation in the IACCC will provide further opportunity for CPIB to work with its counterparts against grand corruption.”
While giving his reaction on joining IACCC, Wong Hong Kuan, Director, CPIB said, “Corruption has become increasingly transnational in nature and can severely affect national interests. The IACCC provides a platform for enhancing international coordination against grand corruption. CPIB is supportive of the IACCC initiative and stands together with our international partners in the global fight against corruption.”