Alibaba to pay US$600 million to settle US probe into illegal product sales
Alibaba has agreed to pay US$600 million to settle a US Department of Justice investigation into allegations its platforms enabled the sale of illegal products into the United States. It is described as one of the largest criminal resolutions involving a Chinese technology company.
Alibaba Group has agreed to pay US$600 million to settle a US Department of Justice investigation into allegations that its e-commerce platforms enabled the sale of thousands of illegal pharmaceuticals, controlled substances and other prohibited products into the United States, the South China Morning Post reports.
The settlement, announced on Wednesday, was reached through non-prosecution agreements with Alibaba and a merchant-services affiliate. The report described it as one of the largest criminal resolutions involving a Chinese technology company.
The deal comes amid continued regulatory tensions between the United States and Chinese technology giants. Analysts say the resolution could reduce uncertainty for the company in the US market, while adding to its compliance obligations.
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