Impact of Memory Holes on Due Diligence Processes

This guide discusses the implications of modern-day 'memory holes' on the due diligence process. It begins with a case study involving an English lord whose incomplete CV led to the discovery of omitted information through Companies House records. These records are crucial for due diligence investigations and background checks. The guide highlights a proposal by Companies House to delete records of dissolved companies older than six years, which has sparked criticism from various stakeholders, including journalists and activists. The text draws parallels to George Orwell's concept of the 'memory hole' and discusses the 'right to be forgotten' established by a 2014 EU ruling, which allows individuals to request the removal of certain online information. The guide outlines the potential consequences of such deletions, emphasizing the risk of omitting critical information from due diligence reports, which could distort the understanding of individuals and entities involved.