Punishing corporate corruption

Are penalties for companies that bribe or embezzle too low? No. But it's important that the individuals involved do not go unpunished, especially in cases where the corruption was longstanding

In a 1997 case, Keppel Corp faced 17 charges of bribery after $8.53 million was paid to the repair and technical manager of a British subsidiary of Exxon Corporation over more than three years. In return, Keppel got contracts to maintain and repair 1
In a 1997 case, Keppel Corp faced 17 charges of bribery after $8.53 million was paid to the repair and technical manager of a British subsidiary of Exxon Corporation over more than three years. In return, Keppel got contracts to maintain and repair 17 of Exxon's tankers. The prosecution proceeded with only three charges. Keppel pleaded guilty and was fined a total of $300,000.PHOTO: KEPPEL CORPORATION

The headline read "Keppel fined $300,000 for giving $8.53m in bribes for contracts".

Deja vu: This has nothing to do with recent events. The article appeared in The Straits Times of Dec 23, 1997.

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A version of this article appeared in the print edition of The Straits Times on April 30, 2018, with the headline 'Punishing corporate corruption'. Subscribe