HONG KONG Dec 12 Twenty-nine current and former
staff of five financial firms, including four banks, have been
arrested in Hong Kong for alleged bribery related to the
disclosure of confidential customer information, the Independent
Commission Against Corruption (ICAC) said on Monday.
All the arrested have been released on bail, but the probe
is continuing, the Asian financial hub's anti-graft body said in
a statement, adding all the financial institutions were
cooperating with its investigation.
It did not name the institutions or individuals involved.
The investigation began after a corruption complaint and led
to the arrests of three managers and 18 serving and former
direct sales representatives of a bank, said the ICAC statement
posted on its website.
The arrested executives included a manager and five serving
and former employees of three other banks, and two employees of
a finance company.
"Enquiries revealed that the bank managers might have
accepted bribes from other arrestees as rewards for divulging
confidential customer information to the latter in Hong Kong for
touting personal loan business," the ICAC said.
The ICAC was set up in 1974 to root out corruption in Hong
Kong. It acts as a law-enforcement agency, able to arrest and
detain suspects, and prosecutes cases in conjunction with advice
from the Department of Justice.
(Reporting by Sumeet Chatterjee; Editing by Mark Potter)