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Category: Received
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* 1992 - The Aboriginal Community Benefit Fund is set up.

* 1992 - ACBF shut down briefly after an injunction by NSW Fair Trading.

* 1993 - ACBF begins trading again, going door to door to sell funeral insurance in Indigenous communities.

* 1999 and 2004 - Corporate watchdog ASIC takes action against ACBF.

* 2009 - The Financial Ombudsman Service requires ABCF to refund contributions to a member of the fund as at the time it does not hold a licence to sell financial products. The ombudsman finds ACBF took advantage of vulnerable people by using high-pressure sales tactics.

* 2001-2015 - Centrelink's direct debit system Centrepay is able to be used to pay ACBF.

* 2015 - The Commonwealth Department of Human Services removes the ability for insurance payments, including those to ACBF, to be made through Centrelink's Centrepay because of the risks funeral insurance raised for vulnerable customers.

* 2018 - ACBF is the subject of a case study in the banking and financial services royal commission, which finds the fund engaged in conduct that fell below community standards and expectations in a number of respects.

* 2020 - ASIC commences proceedings in the Federal Court against Youpla Group, the parent company of ACBF, alleging misleading and deceptive conduct. A hearing on liability and penalty is heard in November 2022 and judgment is reserved.

* March 2022 - Youpla Group goes into liquidation.

* 2022 - After campaigning from the Save Sorry Business coalition, the federal government sets up the Youpla Group Funeral Benefits program to help families of fund members. The program is not a compensation scheme and will only pay a funeral benefit for a member who has died.

© AAP 2023