Catching Fraud and Valuation Miscalculation

Red Flags & Risk Takers: The Behavioral Profile of Fraudsters

Maria Tsennykh welcomes back Yulia Maksimenko, Principal at TSENU Consulting, for a deep dive into the real portrait of a typical fraudster. Drawing from both hard statistics and decades of investigative experience, Yulia challenges common stereotypes and unpacks the demographic and psychological trends behind occupational fraud. Maria and Yulia explore who most often commits fraud within organizations, discussing gender dynamics, career stage patterns, the role of collusion, red flags (including the telling signs of never taking a vacation), and the nuanced motives driving fraudulent actions. They also debunk the myth of the "evil genius" fraudster, highlighting that many cases involve surprisingly unsophisticated schemes. Packed with insightful anecdotes from their careers and research, this episode sheds light on why even seasoned professionals can still be caught off-guard by who turns out to be a perpetrator. Whether you're in risk management, finance, or just curious about the human side of financial crime, this conversation delivers practical wisdom and the kind of real-world examples that could help protect any business from falling victim to fraud. To learn more go to: https://www.tsenu.global/

Divorce and Disputes: Forensic Accounting Essentials to prevent surprises before it’s too late

Even with a strong prenuptial agreement, it's crucial to understand potential oversights from a forensic accountant's perspective to ensure true financial security. These expert insights help you prepare for and manage the challenges of a potential divorce, empowering you to navigate worst-case scenarios with clarity and peace of mind. In this solo episode, your host Maria Tsennykh, founder and managing partner of TSENU Consulting, dives into the unique challenges of navigating finances and asset valuation within divorce and matrimonial settings. Drawing from her extensive background in forensic accounting, auditing, valuation and global consulting, Maria shares practical tips to prepare for life’s unexpected turns—even if everything in your marriage feels stable today. She’ll walk you through the must-know strategies for keeping financial records, understanding the time value of money, tracking large expenses, and preparing for nuances based on your state’s laws. Whether you’re looking to safeguard your financial future, curious about best practices from a forensic accountant’s viewpoint, or just want peace of mind, this episode is packed with insights to help you stay organized and empowered—no matter what lies ahead. So grab a pen, maybe even that yearly bank statement, and tune in as Maria unpacks how to protect your value and make smart financial decisions before, during, and after pivotal life changes. 00:00 Forensic Accounting & Divorce Preparation 06:07 Financial Record Keeping for Marriage 07:27 Investment Tracking & Marital Finances 14:23 Present Value in Matrimonial Finance 19:07 Financial Reflection in Matrimony 22:26 Financial Insights: Beyond Surface Investments 27:24 "Forensic Accounting: Client's Perspective" 30:05 Conclusion About Maria Tsennykh: Maria Tsennykh, Ph.D., has more than 20 years of experience in valuation, forensics, litigation, investigations and audit, including services as an expert witness and 11 years at a Big Four Firm. In addition, having worked on two continents, she combines her economic, accounting, corporate finance, valuation and investigations backgrounds to advise clients in a variety of complex circumstances in the U.S. and internationally. Her experience includes damages analysis, assessment of corporate governance practices and internal controls, business and intangible assets valuation, and international arbitration advisory. She also regularly directs large-scale financial investigative assignments including forensic accounting investigations, financial fraud investigations, financial reporting investigations, white-collar crime investigations, corporate governance investigations and investigations involving the Foreign Corrupt Practices Act (FCPA). Connect with TSENU GLOBAL - www.TSENU.global

What Is Your Brand Value?

Host Maria Tsennykh delves into the nuances of brand valuation with TSENU Global's very own Peter G. Wollmeringer. With over 30 years of experience in the field, Peter offers a wealth of insights into how to grow and evaluate the worth of a new company's brand. Together, they navigate through the intricacies of valuation methods—cost, royalty, and income approaches—and discuss strategies for maximizing brand value. Whether you’re a startup owner or an established business looking to enhance your brand's worth, this episode provides invaluable guidance on fostering growth and ensuring your brand's success. Tune in as they unravel the complexities of valuation and share practical advice on managing brand equity effectively. 00:00 Brand Valuation Methods Overview 03:41 Forward-Looking Company Performance Analysis 07:37 Apple's Revenue: Customers vs. Brand 12:11 Brand Value Beyond Revenue 14:35 Product Name Challenges & Marketability 18:41 Nike's Rise from Track to Mainstream 21:10 Sneaker Brand Expansion Strategy 25:56 Chrysler's Asset Evaluation in Bankruptcy 29:02 "Evaluating Global Business Presence" 30:57 Reviving Toys R Us Brand 33:51 Dynamic Economic Modelling Factors About Peter G. Wollmeringer: Peter is a Principal and the US Valuation Leader at TSENU Consulting with over 30 years of diverse business valuation experience. Over Peter’s career he has been a trusted advisor to large corporations, small companies, private equity, venture capital and legal counsel providing valuations of businesses, business assets and complex instruments in the context of financial reporting, tax, litigation over business disputes, bankruptcy, and distressed situations. About Maria Tsennykh: Maria Tsennykh, Ph.D., has more than 20 years of experience in valuation, forensics, litigation, investigations and audit, including services as an expert witness and 11 years at a Big Four Firm. In addition, having worked on two continents, she combines her economic, accounting, corporate finance, valuation and investigations backgrounds to advise clients in a variety of complex circumstances in the U.S. and internationally. Her experience includes damages analysis, assessment of corporate governance practices and internal controls, business and intangible assets valuation, and international arbitration advisory. She also regularly directs large-scale financial investigative assignments including forensic accounting investigations, financial fraud investigations, financial reporting investigations, white-collar crime investigations, corporate governance investigations and investigations involving the Foreign Corrupt Practices Act (FCPA). Connect with TSENU GLOBAL - www.TSENU.global

5 Tips for Avoiding Fraud

On this debut episode of "Catching Fraud and Valuation Miscalculation," where the intricate world of fraud prevention and valuation errors in businesses of all sizes is thoroughly examined, Maria Tsennykh features a seasoned expert in fraud detection and prevention, Yulia Maksimenko. With over 20 years of experience, Yulia, a principal at TSENU Consulting, shares invaluable insights on how business owners—from liquor stores to office spaces—can safeguard their enterprises against fraud. This episode explores the endemic risk of fraud that businesses face, often going undetected or unreported for years. Yulia provides startling statistics, revealing that 50-80% of companies have experienced some form of fraud recently, with an average of 5% of revenue being siphoned off. Practical steps for fraud prevention are discussed, emphasizing the importance of hiring the right people and the necessity of a robust internal control system. Yulia underscores the significance of fostering an ethical work environment, where misconduct is not tolerated and employees are encouraged to report suspicious activities through anonymous channels. The role of internal controls, segregation of duties, detailed record-keeping, and the power of whistleblowing in uncovering fraud are central themes. Featuring both personal anecdotes and real-world case studies, this episode is packed with tips and strategies that are essential for any business owner. Listeners will uncover the layers of fraud prevention and learn how to protect their most valuable assets. 00:00 Introduction to fraud 05:47 Focus on space-related issues and fraud prevention 08:43 Enforcing cleanliness reduced New York Metro crime 10:25 Focus on selecting psychologically suitable employees 16:00 Management team committed fraud; previous company history 20:23 Carefully select people; implement strong internal controls 25:54 Safe communication is crucial for addressing issues 26:44 Whistleblowing: Essential for exposing hidden fraud cases 29:54 Analyze management accounts for unusual fluctuations 33:52 Internal controls needed for bank loan approval 36:07 Maintain detailed records to prevent financial confusion 40:12 Conclusion About Yulia Maksimenko: Yulia Maksimenko specializes in white-collar crime investigations and bribery and corruption reviews (including, but not limited to, Foreign Corrupt Practices Act reviews and monitorships). She is a highly accomplished professional with over twenty years’ experience in preventing and detecting fraud, forensic accounting, corporate investigations, AML reviews and internal audits. She is well-versed in working as a joint team with law firms and independently investigating complex cross-border matters. Yulia has international experience of working in Russia and Eastern Europe, UK and USA. Yulia is a Certified Fraud Examiner. About Maria Tsennykh: Maria Tsennykh, Ph.D., has more than 20 years of experience in valuation, forensics, litigation, investigations and audit, including services as an expert witness and 11 years at a Big Four Firm. In addition, having worked on two continents, she combines her economic, accounting, corporate finance, valuation and investigations backgrounds to advise clients in a variety of complex circumstances in the U.S. and internationally. Her experience includes damages analysis, assessment of corporate governance practices and internal controls, business and intangible assets valuation, and international arbitration advisory. She also regularly directs large-scale financial investigative assignments including forensic accounting investigations, financial fraud investigations, financial reporting investigations, white-collar crime investigations, corporate governance investigations and investigations involving the Foreign Corrupt Practices Act (FCPA). Connect with TSENU GLOBAL - www.TSENU.global