RunnaRiz, a seemingly enticing MLM company, has caught the attention of many individuals seeking financial opportunities. However, a closer look at the company’s website leaves us with more questions than answers. One glaring omission is the lack of ownership or executive information provided. This lack of transparency raises concerns and should be a red flag for potential investors.
A quick search reveals that the domain for RunnaRiz’s website, “runnariz.com,” was privately registered on October 14th, 2023. The use of South African rand as the primary currency suggests that the company is primarily targeting South Africans. However, the identity of the individuals behind RunnaRiz remains shrouded in mystery. The absence of clear ownership or executive information is a cause for caution and should give potential investors pause before proceeding.
As seasoned observers of the MLM industry, we understand the importance of knowing who is running or owning a company before investing our hard-earned money. MLM companies that fail to provide this crucial information often raise concerns about their legitimacy and intentions. Without transparency, it becomes difficult to hold anyone accountable for their actions or decisions.
The lack of regulation or the presence of poor regulation is a huge red flag. It means RunnaRiz is a scam and most likely, an illegal operation.
Companies offering investment services or opportunities without having a license can vanish without leaving a trace. Furthermore, the lack of a regulatory license allows them to get away with it and face no legal consequences.
That’s why it’s vital for you to always check a company’s regulation status as well as its license information. The presence of a license allows consumers to reach out to an authority if something goes wrong.
In the case of RunnaRiz, victims have nowhere to go due to the absence of a watchdog or license.
You should ask yourself the following questions when you come across a new investment firm or opportunity:
- Does the investment provider maintain transparency about its CEO?
- Do they have a license from a renowned regulatory authority?
- If the need arises, can I reach out to an authority to report this company as a scam?
Becoming a RunnaRiz affiliate is a straightforward process, as membership is free of charge. However, to fully participate in the income opportunity, a minimum investment of R500 is required.
This financial commitment is the gateway to accessing the promised returns and referral commission structure.
It is worth noting that RunnaRiz also accepts tether (USDT) as an alternative form of investment. This acceptance of cryptocurrency further highlights the need for caution, as crypto transactions can be more challenging to trace and regulate.
One of the key indicators of a legitimate MLM company is the presence of retailable products or services. Unfortunately, RunnaRiz falls short in this aspect.
Upon closer examination, it becomes evident that affiliates are only able to market the RunnaRiz affiliate membership itself.
This raises questions about the sustainability of the business model and the source of revenue for the company.
Without tangible products or services to sell, the primary focus of RunnaRiz affiliates is to recruit new members into the scheme.
This recruitment-centric approach is a common characteristic of pyramid schemes, where the emphasis is on continuously bringing in new investors rather than promoting genuine products or services. Potential investors should exercise caution when considering joining a company that relies solely on affiliate membership recruitment.
The RunnaRiz compensation plan promises attractive returns for investors, but a closer look reveals a potentially unsustainable structure. Affiliates are encouraged to invest their South African rand with the expectation of a 70% monthly return. While these returns may sound enticing, it’s crucial to examine the sustainability and viability of such promises.
According to RunnaRiz’s compensation plan, the advertised returns are paid out over a six-month period, with increasing amounts each month. For example, a R500 investment would supposedly yield R850 in the first month, R1403 in the second month, R2314 in the third month, and so on.
The returns appear to follow a pattern of exponential growth, which can be alluring to potential investors seeking quick profits.
However, it’s essential to approach these promises with skepticism. Such high returns are often indicative of a Ponzi scheme, where new investments are used to pay off existing investors. The sustainability of these returns becomes highly questionable, as they rely solely on the continuous influx of new investors’ funds. Ultimately, when recruitment slows down, the entire system is at risk of collapsing, leaving the majority of participants at a loss.
Also, it’s worth noting that many scammers disable their payment channels before shutting down their operations.
They might give you multiple reasons including:
- A technical error
- A glitch in their system
- Banking issues
- A “hacking attack”
And many others.
But in 9/10 cases, the scammers actually stop making payments and keep the money to themselves. Hence, the payment methods we discussed here might not work.
If you want to get your money back from a scammer, you’d need to file a chargeback.
One of the critical factors to consider when evaluating an investment platform is how well it handles customer complaints. As RunnaRiz’s reputation is relatively unknown, it is challenging to determine how effectively they address and resolve customer issues. Potential investors should exercise caution and thoroughly research the company’s track record in this regard before making any investment decisions.
When it comes to scammers, you should only measure the quality of their customer service if they respond to your complaint.
In the beginning, scammers tend to remain very accessible.
This means their representatives will keep calling you until you invest with them. Furthermore, they will act friendly and make it seem as if you’re one of their most valuable consumers.
However, they do all this just to win your trust.
Scammers understand that in order to convince someone to give them a large sum, they will need to seem like a friend.
Nevertheless, when you have invested a considerable amount of money and need to get it back, their customer support will become inaccessible.
All of a sudden, their numbers would either stop responding or become unavailable.
Still, they might remain accessible to convince you to invest further. Also, they might begin by making a few excuses regarding your payment.
However, in the end, the customer support won’t resolve your issues and become increasingly unavailable.
Given the limited information available about RunnaRiz’s reputation, it is difficult to find comprehensive customer testimonials online. This lack of feedback raises concerns about the platform’s credibility and may deter potential investors from engaging with the company. It is crucial to thoroughly research and seek independent opinions before making any investment decisions.
It’s worth noting that many scammers tend to purchase fake reviews. Buying fake reviews has become extremely easy and it’s a multi-million dollar industry.
Scammers like RunnaRiz tend to purchase fake reviews for their online profiles to make themselves seem more credible.
TIME Magazine investigated the fake review industry and estimated it to be worth more than $150 million. Certainly, there are a ton of scammers who want to seem legitimate and a bunch of fake reviews is the most effective way to do so.
That’s why you shouldn’t trust RunnaRiz reviews easily.
It’s easy to identify fake reviews as well. You should look out for 5-star reviews that are posted by temporary accounts (profiles which only posted 1 or 2 reviews on the platform). Also, you should see if the positive reviews share any detailed information about their experience with the firm or not.
In the case of RunnaRiz, chances are, you wouldn’t find many legitimate reviews.
Another prominent way scammers like RunnaRiz enhance their credibility is by burying negative reviews and complaints under a lot of fake reviews.
This way, when you’ll look up “RunnaRiz reviews”, you might not find many complaints. Or, you might find them buried within numerous reviews praising RunnaRiz.
You should always look out for consumer complaints. In the case of RunnaRiz, the most common complaints I found were about:
- Poor customer support
- Delays in payments
- High fees and charges
- Lack of transparency regarding their leadership team
- Aggressive sales staff
Do you have a similar complaint about RunnaRiz? You can share your complaint in the comment section or submit an anonymous tip.
RunnaRiz’s lack of ownership and executive information, combined with its recruitment-centric business model, raises serious doubts about its legitimacy. The absence of retailable products or services further emphasizes the scheme-like nature of the company. The promised returns and referral commissions may appear attractive, but they ultimately rely on the continuous recruitment of new investors.
Investors must exercise caution and thoroughly investigate MLM opportunities before parting with their hard-earned money. The allure of quick profits should not blind us to the potential
RunnaRiz is an unregulated entity. Although they might fall under the jurisdiction of a watchdog, they don’t have the license to offer financial services to consumers.
The lack of a license means they are not answerable to any regulatory authority. As a result, the people behind RunnaRiz can run away with your money without any prior notice. You should be extremely cautious when dealing with an unregulated service provider.
The absence of a watchdog also means you cannot report to them to anyone.
Also, due to the absence of specific regulations, there is no provision protecting you from the insolvency of this entity. If they go bankrupt, you won’t be able to do anything about it.
Can You Trust RunnaRiz?
All the evidence suggests that RunnaRiz is a scam. If you have lost money to them, there is still a chance you can get it back.
To recover your funds, you’d need to file a chargeback.
Is RunnaRiz a scam?
Can I withdraw money from RunnaRiz?
Where is RunnaRiz Located?
How do I get my money back from RunnaRiz?
Launch a website/app with a generic name
A website or app with a generic name allows scammers to hide behind common Google search results. Marketing such names is easier as well.
Pay influencers & social media pages to promote the scheme
By getting influencers and social media pages to promote their brand, scammers make their shady company seem more legit than it actually is.
Send thousands of emails and make cold calls to potential victims
It’s common for scammers to buy the contact details of people and spam them through email, phone calls, social media messages and other means.
Make victims feel safe through “small wins”
Such small wins usually include a few payments transferred into the victim’s account. This makes them seem more legitimate.
Convince victims into investing large sums of money
Due to the small wins, the victim is now convinced that the company is legit. Now, the scammers try to manipulate the victim into giving them larger sums.
Disable withdrawals & take down the website/app
Once the scammers have recieved a signicant sum, they either stop responding or cite a technical error to freeze their victims’ funds.
Repeat the cycle
After making the money, the scam will shut down and the people running it will launch another and repeat the cycle.