ICAC Arrests 49 Over Suspected Building Work Bribes
"); jQuery("#212 h3").html("

"); });
2023-01-06 HKT 14:51
The Independent Commission Against Corruption (ICAC) on Friday said it had arrested 49 people as part of its largest ever investigation involving the building maintenance sector.
The graft-buster said it suspects a gang paid bribes to secure maintenance work contracts worth a total of HK$500 million.
Those arrested include engineering consultants, contractors and suspected triad members.
Bryan Chong, the ICAC’s Assistant Director of Operations, said that in one case, a HK$1.5 million bribe is suspected to have been paid to property management staff for a HK$200 million maintenance contract at a housing estate in Islands District.
Chong said officers stepped in before eight of the 10 projects got underway, adding that their investigation has not been easy.
"We started off with limited information. Throughout the initial enquiry, we did a lot of investigative work, in order to establish that there was actually a big syndicate behind the scenes. I think the difficulties in this case would be how to professionally deal with the information that came to us, in particular with limited information at the initial stage," he said.
Chong called on homeowners to contact the ICAC if they find anything suspicious regarding the tendering process for building maintenance works.
Indonesia And South Korea Begin Cross-Border QRIS Payments In Local Currencies
Bank Indonesia and the Bank of Korea have launched cross-border QR payment connectivity between Indonesia and South Kor... Read more
Hong Kong Misses March Deadline For First Stablecoin Licenses, No Issuers Approved
The Hong Kong Monetary Authority (HKMA) has yet to issue its first batch of stablecoin licenses, missing an earlier tar... Read more
Hong Kong Sees Digital Wallets Surpass Cards For The First Time
Digital wallets have surpassed cards for the first time in the city’s payments landscape, according to the Global Pay... Read more
HSBC Appoints Max Xu And Samuel Chen To Lead Wealth And Private Banking In China
HSBC has appointed Max Xu as Head of International Wealth and Premier Banking (IWPB), HSBC China, and Samuel Chen as He... Read more
OSL Group 2025 Revenue Hits HK$489M, Stablecoins Account For 60% Of Trading
OSL Group reported its annual results for the year ended 31 December 2025. The company said it recorded growth during t... Read more
JCB Brings Google Pay Contactless To Taiwan In First Overseas Rollout
JCB has announced that JCB-branded credit cards issued by Union Bank of Taiwan and Bank SinoPac will, for the first tim... Read more