XN000022-1991-03-09 — Page 2

SATURDAY, MARCH 9, 1991

1-

GOVT COMMITTED TO FIGHT AGAINST ECONOMIC CRIME

FIGHT

THE

THE HONG KONG GOVERNMENT WAS COMMITTED TO AN UNRELENTING

AND LAUNDERING

WAS VERY MONEY AGAINST

CRIME ECONOMIC

INCLUDING

ΤΟ IN

OTHERS

DO ASSISTING

So, PART WILLING TO PLAY A

SAN FRANCISCO DIRECTOR OF PUBLIC PROSECUTIONS, MR JOHN WOOD, SAID IN ON FRIDAY.

FULL

BOTH COMPLEX AND OF TERRITORIAL FREELY

WERE FRAUDS MR WOOD SAID INVARIABLY LARGE INTERNATIONAL IN NATURE AND THAT TRADITIONAL CONCEPTS

THE LIMIT WHERE

JURISDICTION WERE STRAINED TO CROSSED NATIONAL BOUNDARIES.

TRANSACTIONS

EXAMPLE, FOR

HE

SAID,

A RECENT

DECISION

HELD THAT

THERE

WAS

ENGLISH

COURT

IN

ENGLAND

OF APPEAL WHERE

EVEN THOUGH

THE

NO JURISDICTION YORK BANK ACCOUNT

PROPERTY WAS STOLEN FROM A NEW TELEX INSTRUCTION CAME FROM ENGLAND.

LAW

WIDENED

"SO CONCERNED HAVE THE BRITISH AUTHORITIES BECOME THAT THE COMMISSION RECOMMENDED THAT JURISDICTION SHOULD BE MATERIALLY IN RELATION TO CASES OF FRAUD.

"THE LEGAL POLICY DIVISION IN THE ATTORNEY GENERAL'S OFFICE HONG KONG IS CONSIDERING WHETHER WE SHOULD GO DOWN THE SAME ROAD, WOOD SAID.

AT A

GATHERING

OF

IN

MR

BAR

WAS

THE AMERICAN MR WOOD WAS SPEAKING ASSOCIATION ON THE SUBJECT OF WHITE COLLAR CRIME IN HONG KONG, HE INVITED BY THE ASSOCIATION TO ADDRESS THE FUNCTION AS A GUEST SPEAKER.

HE SAID

HONG

KONG HAD

INVESTIGATE FRAUDS.

ADOPTED

A

TASK

SYSTEM FORCE

TO

AT

A FAR

EARLY STAGE

OF VARIOUS OTHER

"LAWYERS ARE NOW INVOLVED INVESTIGATIONS INTO ECONOMIC CRIME THAN IN RELATION TO TYPES OF CRIME AND TASK FORCES CONSISTING OF LAWYERS, ACCOUNTANTS AND

FRAUD IS SUSPECTED AND

THE DECIDE POLICE MEET SOON AFTER A LARGE

SHOULD TAKE AND MONITOR THE DIRECTION IN WHICH THE

INVESTIGATION

RESULTS ON AN ON-GOING BASIS.

"SUCH

INFORMAL

MEETINGS ARE

EASILY

ACHIEVED IN A

SMALL

CENTRALISED PLACE LIKE HONG KONG," MR WOOD SAID.

OF THE PROBLEMS HE POINTED OUT THAT THE HEIGHTENED AWARENESS

HAD RESULTED IN

BEING MORE CRIME

MATTERS AND IMPACT OF ECONOMIC REPORTED AND THAT THE STANDARD OF AUDITING HAD IMPROVED WITH FAR QUALIFIED REPORTS BEING GIVEN TO COMPANY ACCOUNTS THAN IN THE PAST.

"LEGISLATIVE CHANGES OF SIGNIFICANCE CREATION OF PROCEDURAL RULES TO ENABLE EVIDENCE TO OVERSEAS FOR USE IN HONG KONG COURTS.

"THESE NEW PROCEDURES HAVE ALREADY

MORE

THE IN HONG KONG INCLUDE

BE OBTAINED FROM

PROVED ΤΟ BE OF

IMMENSE PROOF OF BANKERS'

PRACTICAL VALUE AS HAS BEEN THE SIMPLIFICATION OF REPORTS.

ΓΕ

/MR WOOD