Y (2K) - Realities Of Compliance

Companies in the United States and many other countries encouraged businesses to share compliance information regarding the potential Y2K problem. The Year 2000 Readiness and Disclosure Act made businesses liable if they provided consumers with inaccurate information regarding their Y2K readiness. Businesses typically did not provide free upgrades to make computers and other products Y2K-compliant, but they did furnish information on their Web sites, including corrections that could be downloaded.

Perhaps the greatest fears were focused on developing countries. Pacific Rim and Western countries publicized Y2K's associations well, but, according to the World Bank, many key systems and emerging economies were at risk in the Third World. Fewer and larger computers control a range of systems, the systems of several countries are often interdependent, emergency management is short-handed for day-to-day problems aside from Y2K, and funds were scarce for buying emergency help and repairs.