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  • Origins of Global Hacks

    Where do hackers come from? | Global tracking ranks hacks by country of origin

    Computer hacks originating in the UK cost the global economy over $2 billion in 2011 according to latest research from FTSE listed IT assurance company, NCC Group.

    The research, which tracks the country of origin of hacks, observed over 23 million hacks attempted in the UK in the second half of 2011. This figure places the UK at 15th in the global league table.

     

     

     

     

     

    The US and China are positioned 1st and 2nd, respectively. Together these two countries are responsible for nearly 40% of the world’s hack attempts, costing the global economy over $44 billion each year.

    Interestingly, five of the top 10 countries are located in Western Europe, with Italy, the Netherlands, France, Denmark and Germany accounting for nearly 200 million attempted hacks, costing the global economy an estimated $16 billion.

    Rob Cotton, NCC Group’s chief executive, comments: “Reading the papers each day, it’s easy to think of hacking as something that happens to us from afar; that we’re victims of foreign criminal gangs in developing countries. Yet hackers can be anywhere in the world, as our research illustrates, including on our own doorstep.

    “Fighting this global threat will only work with global collaboration. We hear lots about governments wanting to work together and there’s a strong financial motivation to find this long-suggested global solution but progress is painfully slow.

    “I’m certain that when we look at these figures again the number of hacks and the cost to the global economy will have increased. I’m less certain that progress will have been made in the global battle against these hackers.

    Hi-resolution map and top-10 table available on request.

    Notes
    The research is based on intrusion detection logs monitored by DSHield, a cooperative network security community based in the US. Stats do not necessarily indicate successful access, just unauthorised attempts and attacks can be routed through IP addresses in different countries.

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  • NCC Group shortlisted for Company of the Year

    NCC Group has been shortlisted for Company of the Year at this year's PLC Awards.

    The PLC Awards event was founded in 1987 to reward excellence in the smaller quoted company sector. The winners of each of the eight award categories are presented with their awards at the annual PLC Awards Dinner, which will be held on 1 March 2012.

    The PLC Awards Dinner is attended by 1,500 guests, including quoted companies, investment banks, fund managers, investment analysts, and corporate advisors.

    Shortlisted nominees annnounced - 27 January 2012

    Public voting on the shortlist opens - 1 February 2012

    Winners announced - 1 March 2012

    http://www.plc-awards.co.uk/index_2011.php

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  • Rules of disclosure

    As part of a new data protection bill to be proposed by the European Commission on Wednesday, firms will be obliged to notify users and the authorities about data lost through hacks or security breaches within 24 hours.
     
    NCC Group, which has long called for rules of disclosure, welcomes the proposed law, but raises concerns about its limitations.
     
    Rob Cotton, CEO of NCC Group, comments:
     
    “This is a hugely positive step. We’ve long been calling for organisations to be legally compelled to declare data losses.
     
    “Companies need to take responsibility for the data they own. It’s vital for end users to be aware of compromised information so that they can take protective steps like changing passwords, but more openness around corporate data breaches will also help to reduce stigma, and assist organisations in taking appropriate action faster.
     
    “One concern over the strength of the proposal is that it isn’t just end users and authorities who should be informed of data losses, but all stakeholders. Everyone from end users to investors has a right to be well informed with regards to the security of a company’s data.
     
    “The proposed bill is to be welcomed, and we’re keen to see it become law in as strong and effective a manner as possible.”
     

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  • NCC Group plc Interim Results

    Growing international revenues drive profits up 33% 

    Highlights 

    • Group revenue up 28% to GBP42.4m (GBP33.0m in 2010)
        o  Organic revenue up 20%
        o  International revenue now contributes 31% (21% in 2010) 
    • Group adjusted operating profits from continuing operations* increased by 33% to GBP10.2m (GBP7.7m in 2010)
        o  Group Escrow operating profits up by 13% to GBP7.6m
        o  Assurance operating profits up by 87% to GBP4.6m 
    • Group adjusted pre-tax profits from continuing operations** up by 32% to GBP9.8m (GBP7.4m in 2010) 
    • Adjusted diluted earnings per share from continuing operations*** up by 33% to 20.2p (15.2p in 2010) 
    •  Interim dividend up by 23% to 5.1p (4.15p in 2010)
    • Ratio of cash inflow from operating activities before interest and tax to operating profit increased to 144% (141% in
      2010)
    • Orders and renewals up 7% totalling GBP43.7m (GBP41.0m in November 2010) for the current financial year 
    • Price increases for UK Escrow implemented in November 

    * Operating profits from continuing operations before amortisation of intangible assets and exceptional items and acquisition costs. 
    ** Profit before tax from continuing operations before amortisation of intangible assets, exceptional items and acquisition costs and unwinding of the discount on acquisitions. 
    *** See reconciliation below 


    Rob Cotton, Group Chief Executive, commented:
     
    "A clear focus on our international growth strategy, which includes exploiting a number of growing market opportunities, has enabled us to deliver a very strong set of results with profits up 33%.  We have increased the interim dividend by 23%, to reflect both our confidence for the future as well as our recent performance. 

    "The cyber arms race continues to speed up, and with the technology revolution outpacing the ability of IT departments to cope with the plethora of security issues, we are well placed to maintain our growth momentum." 

    Enquiries: 
     
    NCC Group (www.nccgroup.com)         
    0161 209 5432
    Rob Cotton, Chief Executive
    Atul Patel, Group Finance Director 
     
    College Hill
    020 7457 2020
    Adrian Duffield/Rozi Morris     

     

    To view the Interim Results for the six months ended 30 November 2011 in full please click here.  

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  • NCC Group plc Trading Update

    NCC Group plc (LSE: NCC or "the Group"), the international, independent provider of Escrow and Assurance, is today publishing a trading update. 

    The Board now expects Group profit before tax for the current financial year to 31 May 2012 to be between GBP21.0m and GBP21.5m, well ahead of market consensus of GBP19.6m.  Revenue achieved is over 27% ahead of last year's first half performance. 

    The Group's Escrow businesses have continued to perform in line with the Board's expectations as outlined in the Interim Management Statement on 19 October 2011.  However, the Assurance Division has benefited from the increase in market awareness about information security issues and the need for enterprises to understand, plan and implement operational strategies to counter and handle cyber-attacks.  This has resulted in a significant growth in the revenues and margins in the Assurance Division for the year so far.  This growth was expected by the Board but not in this time scale. 

    It is too early in the current financial year to see what impact this change in Assurance's rate of growth in revenue and margins will have on subsequent financial years, particularly given the uncertain economic environment. 

    Rob Cotton, Group Chief Executive, commented: 

    "Now that we have closed the first six months of the current financial year, it is clear that the rate of growth in the information security units within Assurance, especially iSEC and NGS, is faster than expected as companies invest to protect themselves from cyber-attack. Our US and UK-based teams offer the best in class testing solutions, supported by our creative and innovative working environments. 

    "In spite of the wider economic environment, the international information security market will continue to grow extremely rapidly.  We expect to be able to capitalise on what is fast becoming the most important area of investment any company can make as they try to stay ahead in the cyber arms race." 

    The Group expects to report its half year results for the six months to 30 November 2011 on Thursday 19 January 2012. 

    Enquiries: 
     
    NCC Group (www.nccgroup.com)         
    0161 209 5432
    Rob Cotton, Chief Executive
    Atul Patel, Group Finance Director 
     
    College Hill
    Adrian Duffield/Rozi Morris          
    020 7457 2020 
     
    There will be an analyst conference call at 8.30am - please contact Lucy Moseley at lucy.moseley@collegehill.com or on telephone 020 7457 2020 for details.

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  • Government Cyber Security Plan

    Rob Cotton, CEO of FTSE listed global IT assurance company, NCC Group, comments:
     
    “The Government's plan is a welcomed start but it does not go far enough in its attempt to bring the private and public sector together in the fight against the cyber security threat.
     
    " A cyber attack is now acknowledged as as big a risk to the UK as international terrorism and we've been calling for financial support to assist the private sector in protecting itself, and the UK, from such hostile attacks.  There is a danger that this is just empty rhetoric again without the tangible support that is needed, particularly by those companies whose continuing operation is paramount to our national infrastructure or keeping UK plc going. As we have seen, such companies are now a prime target.
     
    “The announcement of help and support from GCHQ for private sector companies is helpful. However, with large amounts of our critical infrastructure and our GDP relying on the IT security of our private sector, it may not be enough.

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  • Online retailers are running out of time to get their sites in order, says Site Confidence

    • Crucial online shopping period kicks off November 28th
    • 2011 performance trends suggest many e-tailers are underprepared
    • Time is running out – efficiency and reliability are paramount

    ‘Cyber Monday’, one of the biggest online shopping days of the year, is fast approaching on November 28th, and e-tailers will be hoping for bumper sales to kickstart the crucial Christmas shopping period.
     
    However, Site Confidence, an NCC Group company specialising in website performance optimisation, has observed trends throughout 2011 suggesting that many companies are not as well-prepared at they need to be.
     
    The company’s quarterly Online Retail Reports, which analyse the performance of the UK’s top 50 e-tailers over three-month periods, have observed increasing periods of website downtime throughout 2011. This culminated with the sites averaging a massive 15 hours 44 minutes of downtime in the third quarter. Some sites recorded over ten days of downtime – even with these results removed, average outages of 3 hours 42 minutes showed a decline on Q2.
     
    Download speeds also showed inconsistency, with average speeds of 12.47 seconds in Q2 and 6.08 seconds in Q3, using a 2 Mbps connection speed.
     
    “E-tailers operate in an extremely crowded marketplace, and if they’re selling the same branded products as a competitor, the efficiency and reliability of the site becomes a major differentiator,” comments Bob Dowson, director of Site Confidence.

    “Our results suggest that retailers may be neglecting the efficiency of their sites as a whole, and that’s a real concern.
     
    “Surveys showing that people abandon slow websites are an important reminder of the necessity for sophisticated monitoring and improving of download speeds – there’s a direct link to revenue loss if it’s neglected. On top of that, a website that simply doesn’t work sends customers into competitors’ open arms in an instant.
     
    “Outages can be caused by a site being unable to take the strain during periods of peak traffic, and for an e-tailer those are obviously the times when being online matters most. The Christmas shopping period can bring in a huge proportion of a retailer’s annual revenue, and driving customers away then could be hugely damaging.
     
    “Even within busy times it’s impossible to absolutely predict periods of peak traffic, which is why it’s important for testing and monitoring to be an ongoing exercise. Erratic download speeds and functionality need to become a thing of the past if e-tailers are to keep their customers.”

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  • Rob Cotton wins stock market’s tech sector ‘Personality of the Year’

    At the annual techMARK awards dinner, the stock market’s technology sector industry event; NCC Group’s CEO Rob Cotton won the ‘Personality of the Year’ award, as voted for by a panel of sector specialists.

    This awards event encompasses all the UK companies listed on the Stock Exchange, including the likes of ARM, Automony, SDL and Imagination Technologies.

    Speaking after the award, Rob commented:

    “I am delighted to have received this award, which I consider to be a very public recognition and endorsement of the entire Group and staff, including our considerable achievements over a number of years.  Although the award is for personality of the year, it is actually a reflection of the company behind the winner.  It is a proud moment for us all, particularly given the quality of other companies short listed.”

    The judging panel is made up of the leading stocking broking analysts and sector specialists, and based their decision on the following criteria: ‘techMARK has brought greater focus and awareness to some of the country’s fastest growing companies, and the people who run them.  Most, but not all, techMARK companies are young, pretty much all are innovative, and certainly every single one of them has, either at the helm or very close to it, a personality whose vision, drive, energy and commitment continue to make the company successful. He or she will be closely identified with the company in question, and be responsible for providing that vital ingredient that enables the company to stand head and shoulders above its competitors.’

     

    techMARK Personality of the Year 2011

     

    Picture shows, left to right; Louise Minchin (awards presenter); Jass Sarai, UK Leader – Technology Industry Group, PwC; Rob Cotton, CEO NCC Group plc (winner); and Sam Smith, Managing Director, finnCap.

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  • Overhauling Internet trust

    Paul Vlissidis, technical director of NGS Secure, an NCC Group company, calls for an overhaul of the website certification system.

    The Internet is built on trust and confidence. Individuals trust that the websites they visit are genuine; websites trust that the authorities certifying their sites as such are reliable. When this trust is attacked, an infrastructure that underpins the Internet is threatened – and 2011 is the year that criminals have taken advantage of this.

    Certification authorities (CAs) provide websites with digital certificates. These certificates assure Internet users that websites are genuine, endowing them with the confidence to, for example, hand over contact details or credit card numbers. A triangular relationship exists between websites, CAs and individuals.

    The intractable issue is that there is no organisation sitting above the reams of CAs that are, ultimately, dealing in trust and confidence. There are over 1500 of them – it’s complicated and convoluted, and there’s no overriding standard of security or quality. Ultimately, it’s far too easy for an organisation to become a CA. So what value is being placed on trust?

    Rather than be faced with a point where confidence in the Internet no longer exists, we need to amend the system now. What’s required is far greater transparency and clarity, whereby the security standards that CAs attain are public. If providers want to be trusted they need to unite, agreeing standards of security and scrutiny, with external experts performing rigorous audits.

    In recent months DigiNotar and Comodo were hit by malicious hackers, KPN Corporate Market discovered a security breach that may go back four years, and Microsoft revoked trust in DigiCert Sdn. Bhd on the basis of poor security practices. As problems like this continue there will come a point when the system is untenable.

    Internet trust relies on CAs not only being secure but also being seen to be secure. The onus now is on the industry to put their house in order.

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  • Speedier downloads but hefty downtime amongst UK’s top retailers

    Erratic e-tailer performance in Q3

    The UK’s leading online retailers are suffering from excessive periods of website downtime, risking both revenue and reputation,Site Confidence has found. With the crucial Christmas shopping period fast approaching, many e-tailers are jeopardising their relationships with consumers.

    The website monitoring and load testing firm, an NCC Group company, has released its Quarterly Online Retail Report, which analyses the online performance of the country’s top 50 e-tailers over a three-month period. Both download speeds and website downtime are recorded. From 1st July to 30th September, the research reveals inconsistent performances – whilst average download speeds improved by nearly 50% on Q2, outages were significantly worse.

    In practice, this means that online shoppers have experienced websites that are quicker to load when online, but are spending far greater periods of time not working.

    The e-tailers recorded average download speeds of 6.08 seconds using a 2 Mbps connection speed, very close to their 6 second target and a marked improvement on the 12.47 seconds demonstrated in Q2.

    Website outages averaged out at a massive 15 hours 44 minutes over the three months compared to just 3 hours 41 minutes for Q2. This includes several e-tailers recording over 10 days of downtime. However, with these results removed, downtime still averaged at 3 hours 42 minutes, a figure marginally worse than the second quarter, and 35% worse than Q1.

    Bob Dowson, director at Site Confidence, part of NCC Group, said: “There are some concerning results here ahead of the Christmas shopping period, which is obviously crucial to most retailers. Whilst it’s encouraging to see such a marked increase in download speeds between the second and third quarters, the downtime results are extremely erratic.

    “For some online retailers to be recording over 10 days of downtime in three months is a major problem and will probably equate to significant amounts of lost revenue.

    “Even with those extreme results removed, downtime has been increasing over the past three quarters, and it needs to be addressed now. Web performance is a multifaceted thing – it’s pointless focusing on speed and neglecting functionality.

    “Online retailers are operating in a packed marketplace at a time when consumers are being very careful with their money, and websites that don’t make shopping simple will quickly send customers elsewhere.”

    Notes

    Performance data (top 50 UK e-tailers) 01/07/2011 – 30/09/2011
    Average downtime: 15 hours 44 minutes (3 hours 42 minutes with results over 10 days removed)
    Average download speed: 6.08 seconds (Connection speed of 2 Mbps)

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