Bankrupt or Not?

Project Info

Bankrupt or Not? thumbnail

Project Description


Background

When an individual goes bankrupt, they go to the AFSA to declare their bankruptcy. While this becomes public information and may make it difficult for an individual to take loans or even leave the country, they are legally allowed to not pay back their debts, with the condition that they are earn below a threshold amount.

As such, it is possible that some individuals are hiding their true income/assets, and thus, deceiving other parties for their money. It is important for the AFSA to identify these individuals, and that's where "Bankrupt or not" comes in.

How do we do it?

Validates AFSA insolvent debtors data files by performing the following:-

  1. Comparing occupation, income and assets against datasets from the ATO
  2. Identifies entries where debtor may be hiding their income/assets.
  3. Flags these entries and provides further information.

"Bankrupt or not" helps AFSA narrow down individuals that are worth investigating a little more into, to check if their income/assets are what they claim them to be.

Technologies used


Data Story


Datasets used

  1. ASFA Insolvent debtors dataset - This helped us identify anomalies/outliers for an individual compared to others with similar attributes (occupation, dependents, income, assets)

  2. ATO occupations dataset - This helped us understand what the average/median income should be per individual

  3. ATO taxation dataset - This helped us understand what the average/median income should be per individual


Evidence of Work

Video

Homepage

High-Res Image

Team DataSets

Attributes of insolvent debtors

Description of Use: We use this to view attributes for the majority of occupation group, and flag anomalies/outliers.

Data Set

ATO Taxation Dataset

Description of Use: We use this dataset in order to get average/median income and assets per occupation

Data Set

Challenges

Bankruptcy – making it easier

Region: Australia

Challenge

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