Talk of corporate social networking is abuzz and has clearly hit the big time. But a security report reveals that hackers have jumped on the bandwagon and ramped up efforts to trick executives into downloading malicious code.

Meanwhile the government continues to pour money into the Child Support Agency IT project, attempting to fix hundreds of defects three years after it was built. A report pegs the costs to fix the case management system at £320m.

Financial sector IT systems and security policies have also been criticised by watchdog Financial Services Authority. In an investigation into insider trading, the FSA stated that potential leaks of market sensitive information could happen if security policies aren't tightened.

Catch up with these stories and all this week's news for IT directors and managers at

Editor's highlights

Three must-read articles on Computerworld UK this week:

Are top Linux developers losing the will to code?

Core Linux developers are finding themselves managing, not coding.

IT systems slammed in FSA insider trading report

City watchdog highlights best and worst IT practice

Child Support Agency IT will cost £320m to fix say MPs

New agency will run old, failed IT systems plagued with defects

Reader's choice

Microsoft UK site hacked

Website hit by SQL injection attack

Infosys reportedly considering Capgemini acquisition

Move would open new European markets to Indian outsourcer

Hackers race to unlock iPhone

The race is on to see who can unlock Apple's iPhone

Digging deeper: The open source debate

Survey: Windows loses ground to Linux with developers

Battle of Windows versus Linux on the desktop

Linux guru calls for coordinated drive on open source desktop

Ubuntu Linux founder Mark Shuttleworth wants common release cycle

Red Hat admits to secret patent talks with Microsoft

CEO reveals meetings last year, but is it all in the past?

Digging deeper: Security threat trends

Hackers target executives and their families

Are social networking sites giving the game away?

New spam virus assault under way

Hydra-headed 'Storm' attack start

In depth

How the domain name was stolen ...part 2

In this second exclusive extract from Kieren McCarthy's best-selling book on the struggle for, we examine how master scamster Stephen Cohen works his schemes.