IT professionals applying for work in financial services in the UK are lying on their CVs, according to a report.

The biggest rise in CV-related dishonesty among the financial services sector over the past year was seen in IT contractors, the research from Powerchex suggests.

It looked into 3,876 job applications submitted to financial institutions between June 2007 and May this year - and uncovered a 30 per cent rise in the number of discrepancies compared with last year's figures.

Overall, it found 17 per cent of people applying for jobs in the financial services sector were prepared to tell lies on their CVs.

Meanwhile, ComputerWeekly.com has reported that IT suppliers are in the main so far managing to withstand the effects of the credit crunch.

Referring to research from Ernst & Young which showed almost half as many UK technology suppliers issued profit warnings in the last quarter than in the first three months of the year, the website suggested one reason may be that businesses are continuing to invest in their IT services.

According to a recent survey by Connect, the two biggest IT headaches for businesses were 'everyday hassles with IT' (37 per cent) and 'security concerns' (32 per cent) In a recent survey of SMEs for Connect, the two most important benefits of outsourcing were 'guaranteed response times' and 'allowing in-house IT staff to concentrate on more strategic issues'