BIT Mining Ltd., once known as 500.com, has reached a settlement to pay a $10 million fine for allegations of non-compliance with the Foreign Corrupt Practices Act. These allegations are connected to a bribery operation intended to sway Japanese government officials between 2017 and 2019 for a casino license.
The bribery scandal highlights the challenges and legal risks international companies might face while pursuing business opportunities in foreign markets. The penalty serves as a cautionary tale about the importance of adhering to international anti-corruption laws and ethical business practices.