Compliance & Ethics

What happens when a company bets big on bribery but loses the house? For BIT Mining Ltd., the answer is a bruising encounter with U.S. regulators. Formerly known as 500.com, the Chinese company has found itself at the heart of a sprawling corruption scandal, accused of paying nearly $2 million in bribes to Japanese officials to win a coveted casino contract. But the deal didn’t pan out, and now BIT Mining is paying the price— both financially and in terms of its reputation.

The Consumer Financial Protection Bureau (CFPB) has hit Global Tel Link Corporation (GTL), now operating as ViaPath Technologies, with a $3 million fine for exploiting incarcerated individuals and their families. The company was found to have systematically frozen and drained payment accounts, leaving those behind bars without access to the money they rely on for basic essentials like food, medicine, and clothing.

Pharmaceutical company QOL Medical LLC (QOL) and its CEO, Frederick E. Cooper, have agreed to pay $47 million to resolve allegations of orchestrating an elaborate kickback scheme. The allegations, brought under the False Claims Act (FCA), paint a picture of aggressive marketing tactics that veered dangerously into unethical territory, all in the name of driving prescriptions for the company’s flagship drug, Sucraid.

Meta, the parent company of Facebook, is back in the regulatory hot seat—this time, for crossing the line in Europe. The European Commission has fined the tech giant a staggering €797.72 million for abusing its dominance to boost Facebook Marketplace at the expense of competitors. The penalty serves as a sharp reminder to Big Tech that the EU won’t tolerate market manipulation under its watch.

Archer-Daniels-Midland Co. (ADM.N), a global leader in agricultural and nutrition markets, has announced that its Chief Compliance Officer, Ben Bard, will step down early next year, citing personal reasons. The news arrives at a precarious moment for ADM, as the company struggles with escalating scrutiny over accounting issues that have forced it to delay regulatory filings and overhaul financial practices.

Security giant Paragon Systems has agreed to pay $52 million to settle accusations that it rigged the system meant to benefit small businesses. The Herndon, Virginia-based contractor, which supplies security guards to federal buildings nationwide, stands accused of using fake "small businesses" as fronts to win contracts set aside for disadvantaged groups, all while allegedly funneling millions in kickbacks to its executives.

The Commodity Futures Trading Commission (CFTC) has awarded nearly $4 million to two whistleblowers whose timely and crucial information helped bring a significant enforcement action to a successful resolution. This decision underscores the vital role whistleblowers play in maintaining the integrity of U.S. markets and supporting regulatory enforcement.