Business Crimes Hotline

In December 2017, enforcement authorities in the United States, Brazil, and Singapore announced a settlement with Singapore-based Keppel Offshore & Marine Ltd. (Keppel Offshore) (and its United States subsidiary) to resolve charges related to bribery in Brazil. The company agreed to pay a total combined penalty of $422 million, of which Singapore received 25% of the amount paid. In part due to the Keppel Offshore settlement, there was a push to revamp Singapore's prior law — the Prevention of Corruption Act — which significantly limited the fines payable by individuals and corporations. As part of a larger criminal justice review, the initial process for potential reform of the Prevention of Corruption Act began in as early as 2014.

In the first instance, for a company to be considered for a DPA, it must self-disclose the underlying misconduct and have an existing and well-established compliance program. Further, similar to its counterpart in the United Kingdom, the newly enacted Singapore Criminal Justice Reform Act allows only for a DPA with a corporation (which has legal representation), rather than an individual, and requires judicial oversight of the DPA process — in particular by the Singapore High Court, which must confirm all agreements to be “in the interests of justice” with “fair, reasonable and proportionate” terms. Singapore also intends to make all DPAs publically available following signature by the Singapore High Court. There are also notable departures from the United Kingdom DPA law, including that DPAs in Singapore apply to fewer criminal offenses — only corruption, money laundering, and receipt of stolen property.