Wal-Mart Stores Inc. is the subject of a U.S. Justice Department criminal investigation into allegations of bribery in its Mexican subsidiary, according to a person familiar with the probe.

The Justice Department is investigating potential criminal charges under the U.S. Foreign Corrupt Practices Act, according to the person familiar with the probe who wasn't authorized to speak publicly about it. Wal-Mart is conducting its own review of allegations that its representatives paid local officials in Mexico to get stores opened faster in the early 2000s.

The investigations by the government and the company may prompt executive departures and U.S. penalties if it reveals senior managers didn't take strong enough action, governance specialists said. The probes also may slow Wal-Mart's expansion in Mexico and other markets.