Jacques Rogge, the IOC President, flagged up the seriousness of illegal betting last month, describing it as "a major threat for sport, probably at the same level as doping."

The issue will be debated more thoroughly in Lausanne on Tuesday (March 1).

Moynihan added: "With the London 2012 Olympic Games now just over 500 days away, I fully support the President's timely focus on corruption.

"I endorse his comments that in order to protect the integrity and credibility of sport, we must get on the front foot now and take the decisive steps necessary to safeguard sport from corruption.

"The ideals of fair play and honesty are at the core of our being in the Olympic Movement, so we must be especially vigilant and united against these ills.

"This is a battle that we must, and will, win.

"I agree with the President's view that International Federations need rules and measures to guard against and discourage these forms of corruption, but the sports world cannot tackle these problems alone.

"Similar to the united front in the fight against doping in sport, which saw sport and governments come together on a global level to create the independent World Anti-Doping Agency in 1999, we need to work collectively with governments, international sport bodies, betting operators and other relevant organisations to succeed in this fight."

"I am delighted and honoured to accept the President's invitation to participate in the IOC Summit on this important matter on March 1 in Lausanne."

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January 2011: "Scourge" of illegal betting is coming to the Games, warns Rogge
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September 2010: Exclusive - Betting scandal has harmed cricket's Olympic hopes warns Sir Craig
July 2010: BAC signs deal with Betfair designed to help stamp out corruption
June 2010: Hotline to be set-up to report Olympic corruption