The Gupta leaks and the importance of knowing your client
A number of high-profile companies and individuals have been mentioned in the e-mails that form part of the so-called Gupta leaks. While the full impact of the Gupta leaks is yet to be determined, it is possible to provide general comments and observations about their potential impact on those mentioned, based on global and local anti-money laundering and anti-bribery and corruption legislation. Generally, global anti-money laundering laws require certain companies to conduct know-your-customer (KYC) checks on prospective and current clients. Similarly, anti-bribery and corruption laws require companies to conduct due diligence on third parties.