Diamond giant De Beers probes gem price leaks
The world’s biggest diamond producer hired an external investigator to find the source of leaks of its most sensitive price data, according to people familiar with the matter.
De Beers hired investigators from KPMG International in SA to find the source of the leaks, according to the people, who asked not to be identified as the matter is private.
The company suspected at least one employee sold pricing information to customers before the diamonds were offered for purchase, the people said.
A spokesman for De Beers said the company had conducted an internal probe and declined to comment on KPMG’s involvement.
A spokesman for KPMG in SA declined to comment.
"We’ve been aware of rumours of information-sharing in the industry and undertook an investigation," De Beers said
"While we didn’t find specific evidence that any of our intellectual property was intentionally shared externally, we have taken steps to tighten internal controls around access to, and communication of, commercial information."
De Beers controls the buying process for its diamonds tightly and the pricing intentions are a company secret.