Australian Financial Complaints Authority to launch investigation into Rebl Corp, Digital Rebl and Media Rebl

Australia’s new financial dispute resolution body has earlier today posted some useful information for firms affected by the activities of Rebl Corp, Digital Rebl and/or Media Rebl. 

The Australian Financial Complaints Authority (AFCA) explains that it has received a number of complaints from small businesses about an agreement to rent Customer Relationship Management (CRM) software from two financial firms who are AFCA members. The CRM software was introduced to small businesses by Rebl Corp, Digital Rebl and/or Media Rebl.

Digital Rebl agreed to pay the small businesses an amount equal to the rental cost of the CRM software. However, this business has now stopped trading. The small businesses do not want the CRM software rental agreement to continue.

In response to the complaints, AFCA has established a process to manage these complaints. The Authority will be selecting a lead complaint/s and starting its investigation on the issues raised. Its investigation will explore whether the financial firms can enforce the rental agreements against the small businesses.

In the lead complaint/s, AFCA will ask the parties involved to provide all their information to the body. The information will then be exchanged with the parties. AFCA will then review all the information and make a decision.

The decision made in the lead complaint/s will form the basis of AFCA’s approach to the other complaints received about the CRM software rental agreements.

While AFCA is handling a complaint, the financial firm must not take any action to recover a debt that is the subject of the complaint.

AFCA encourages any small business concerned about a finance agreement they entered when dealing with the Rebl Corp group to contact their financial firm first to allow the financial firm to resolve the complaint directly with them. If the complaint is not resolved, or the small business is in financial difficulty due to any arrangement with the financial firm, the next step is to lodge a complaint with AFCA online, via email or by telephone.

AFCA started its business operations in November 2018. Financial firms including AFS licensees that provide financial services to retail clients, credit licensees, most credit representatives, superannuation trustees and unlicensed product issuers are required by law to join AFCA. Some other firms operating under a licensing exemption may also be required to join the Australian Financial Complaints Authority (AFCA), including firms operating in the regulatory sandbox.