This book analyses central questions in the continuing debate about success factors in corruption prevention and the efficacy and value of anti-corruption agencies (ACAs). How do ACAs become valued within a polity? What challenges must they overcome? What conditions account for their success and failure? What contributions can corruption prevention make to good governance? And in what areas might they have little or no effect on the quality of governance? With these questions in mind, the authors examine the experience of Hong Kong's Independent Commission Against Corruption (ICAC), widely regarded as one of the few successful examples of an ACA. The book is grounded in an analysis of ICAC documents and surveys, the authors' survey of social attitudes towards corruption in Hong Kong, and interviews with former officials.