Y2K faults are still emerging, and could still reach a peak over the next few months with the occurrence of the leap year and the end of the financial year. Banks warn that February 29 is likely to trigger more problems than the new year's eve rollover.
'In the UK, a survey by the Office of National Statistics found that 5% of companies reported some sort of adverse impact on computer systems arising from the year change,' said Malcolm Marshall, KPMG's information risk management partner.
Of the recorded incidents, 67 were in the first week of the year and 23 came later. Even now organisations are still discovering problems with their systems. 'Organisations need to remain vigilant around the key dates of the leap year and the end of months,' said Mr Marshall.