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Tuesday, April 04, 2006

IT Spending Pushed By Web Security

According to one report, the UK will be leading the EU in IT spending for at least the next two years. As both consumers and institutions show concern for web safety and e-banking, the country is pouring money into IT services for protection.

Datamonitor analyst, William Conner, announced the results of his study recently and expressed his belief that the UK was likely to spend $23 billion in 2006 alone. Although this is the case, some of this funding is going toward U.S. companies such as IBM that are based in the U.K.

The news remains good, though, for U.K. companies. Conner notes that "Losses from Web banking fraud rose 90% in 2005. And while the introduction of chip and PIN technology helped cut credit and debt card fraud for the first time in a decade, organized gangs of fraudsters are now increasingly targeting the Web."

To learn more about IT spending and future trends in the U.K., read the article, New Data: Web Security, eBanking Are Driving IT Spending in UK Financial Services (link above).

Posted by Computer Consulting 101