With the ageing of the population, and increasing demand for individuals to be financially literate and self-sufficient, older Australians may find themselves at greater risk of fraud. Although the proportion of the elderly experiencing fraud is lower than for those aged less than 65 years, this is the crime they are most likely to experience and the effects can be devastating as the elderly ar...

This Article explores the relationship between consumer credit markets and bankruptcy policy. In general, I argue that the causative relationships running between borrowing and bankruptcy compel a new strategy for policing the conduct of lenders and borrowers in modern consumer credit markets. The strategy must be sensitive to the role of the credit card in lending markets and must recognize th...

The security of wireless LANs has been a source of concern for businesses and individuals who are aware of its advantages due to its flexibility. With the increase in the use of wireless LANs for enterprises and homes, where information assets are shared continually, security is of the essence. With the increase in ecommerce and eservices, there is the risk of identity and credit card theft. Th...

Other papers presented at this conference have documented the substantial recent decline in real estate prices and the impact of this decline on financial institutions. This paper will take the decline in bank capital as a result of exposure to real estate as given, and address how banks have responded to their deteriorated financial condition. The paper will show that real estate losses, combi...

Informational Efficiency of Credit Default Swap and Stock Markets: The Impact of Credit Rating Announcements This Paper analyses the response of stock and credit default swap (CDS) markets to rating announcements by the three major rating agencies during 2000-2. Applying event study methodology, we examine whether and how strongly these markets respond to rating announcements in terms of abnorm...

We examine what are common factors that determine systematic credit risk and estimate and interpret the common risk factors. We also compare the contributions of common factors in explaining the changes of credit default swap (CDS) spreads during the pre-crisis, crisis and post-crisis period. Based on the testing result from the common principal components model, this study finds that the eigen...

Soft-products are intangible products that can be consumed without shipment, such as software, music and calling cards (calling time). The demand for soft-products on the Internet has been increasing for the past few years. At the same time, fraudulent credit card transactions have also increased. Compared to tangible products, fraudulent credit card transactions on soft-products are easier to ...

In this paper, we examine how county unemployment rates affect consumers’ delinquency and bankruptcy behavior by focusing on the credit card market. In particular, after controlling for credit supply and shocks like divorce and health coverage we investigate whether consumer propensity for delinquency and bankruptcy changes with respect to the macroeconomic fluctuations across counties. Our res...

Credit Unions have been exposed to a challenging economic environment over the past several years. The turmoil has been marked by numerous failures and consolidations within the Credit Union industry, coupled with increased regulatory scrutiny. However, some Credit Unions have fared better than others. Variation in the performance of Credit Unions, each exposed to a relatively similar economic ...