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Business Crimes Hotline
Singapore Passes Deferred Prosecution Legislation
In mid-March, the Singapore government passed the Criminal Justice Reform Act, which included legislation regarding the use and mechanics of deferred prosecution agreements (DPA). The agreement between a company and prosecutors — carried out under the supervision of a judge — allows for suspension of prosecution for a defined period of time while the organization meets certain conditions as set forth in the DPA.
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.
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