Amid a surge in banking scandals, the addition of Westpac to the corporate regulator's rate-rigging prosecution, and demands for a royal commission into the financial sector, the Turnbull government is considering a new law that would enable corrupt corporations to buy their way out of charges.

In March, Justice Minister Michael Keenan launched a discussion paper by the Attorney-General's Department -- the agency responsible for draconian mass surveillance and anti-terrorism laws -- on deferred prosecution agreements (DPAs).