Magix Security has announced the appointment of Andrei Migatchev as Chief Technology Officer (CTO). Migatchev will assist Magix Security in optimising its capacity to assist clients in mitigating the risks
businesses face today, specifically in the three key areas of fraud, money laundering and cyber crime.
Cyber crime has had a significant impact on South African businesses, with the South African Cyber Threat Barometer estimating that R2.65 billion was lost to cyber crime between January 2011 and August 2012.
"My primary role is to ensure Magix Security keeps abreast of the latest local and international developments in cyber crime, fraud and money laundering, as well as the latest reliable, efficient and cost-effective ways to mitigate these risks," says Migatchev. "I will also be tasked with ensuring our staff are skilled in the latest strategies and technologies to deal with these and other security risks, allowing us to meet and exceed the already high expectations clients have of Magix Security."
After obtaining his BSc in Computer Science, Migatchev focused on scientific programming, including cutting-edge areas such as artificial intelligence and neural networks. He then moved into application development in the commercial world, where he was surprised to learn that even experienced analysts and developers focused on features and functionality at the expense of security.
"Security needs to be part of the original design and architecture of any system," he explains. "If it is simply an afterthought, we are left with systems that may perform well, but offer an unknown number of ways for criminals to exploit the insecure design."
Migatchev says the role of CTO suits him, as he is an "eternal scholar" and is constantly updating his knowledge and experience. He has several degrees related to information systems and development under his belt and is planning on completing his PhD. That goal has, however, been placed on hold for now, to allow him to devote more of his time to his first born, who will be arriving soon.
"Magix Security is at the forefront of risk mitigation in the areas of cyber crime, fraud and money laundering in South Africa," he notes. "The company has crafted a hard-won reputation of service and delivering to expectations, along with a respected team of experts that I am both excited and privileged to be working with."
From 2010 until his new appointment at Magix Security, Migatchev was CTO of Magix Integration t/a Magic Software SA. For six years prior to this, he was an independent consultant, mostly in the areas of solution and enterprise architecture, working with enterprise-size companies like Clover, FNB and the South African Post Office.
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Magix Security
Magix Security is a South African company that is an expert at identifying and eliminating threats from perpetrators of cyber crime, who intend to defraud organisations of sensitive information assets and money.
It has an in-depth understanding of how application fraud is perpetrated by exploiting vulnerabilities in application frameworks, process and identity management. Leading software products in the fields of cyber crime, IT security, IT vulnerability management, IT risk management and IT compliance are sourced and applied to successfully extract the benefits of adopting these products.
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