Millennium Bug - Companies urged to remain alert over Y2K bug.
Despite widespread reports that the millennium bug had been squashed before the 2000 date change, more than 100 significant Y2K related failures were reported throughout the world in January. According to figures collated by the KPMG/British Bankers Association Year 2000 Research Centre, these failures ranged from the serious – reported failures in nuclear power plants and the US nuclear arsenal – to the inconvenient, with problems reported in the new MP3 Internet music system. Some 67 of these incidents were in the first week of the month, 23 in the remaining three weeks. It is thought the actual number may be higher, with a number of incidents having not been made public. Malcolm Marshall, KPMG Information Risk Management Partner said: ‘In the UK a survey by the Office of National Statistics found 5% of companies reporting some sort of adverse impact on computer systems arising from the millennium date change. ‘Y2k problems are still emerging – especially in government and in the general area of e-commerce.’