SunMoney, is it a scam? A look into dishonest marketing
March 24, 2024 | by watchoutscam.com
Is SunMoney a scam? That is what we wil try to figure out today.
If you are here today, you likely heard of SunMoney already. It is likely you have been contacted by a friend proposing a very good environmental friendly investment that is also very profitable.
In this article we will investigate SunMoney’s online business practices and try to uncover the truth: is SunMoney trustable?
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To clarify, which SunMoney we are writing about:
sunmoney.net and sunmoney.com
Easy To Acquire Titles & Memberships
Lets cover the most obvious on sunomney.com
The easy to acquire titles that they so proudly promote on their site.
They say they are members of “United Nations Global Compact” and “ISES”.
When you hover over the first membership “United Nations Global Compact“, you will be lead to this link: https://unglobalcompact.org/what-is-gc/participants/106861
On that exact page you can find more data. Like their official letter of commitment for human rights, labor, anti environment & corruption which is publicly available and signed directly by the managing director Laszlo Balogh.
Ironically the letter of commitment says that they support public accountability and transparency (we will circle back to this later).
Ironically the letter of commitment says that they support public accountability and transparency (we will circle back to this later).
Now note how this “membership” gives the impression for a random sunmoney.com website visitor that sunmoney is under strict and vigorous supervision in regards to transparency and corruption.
Guess what it takes to become a member?
On the same page go to “participate” in the top menu, then click on “join us” button, then open the respective form.
Anybody can join, all it takes is filling out a half a page long form.
Not to mention that there is no supervision or review whether a member organization is following the rules or not, it is a self assessment. Simple scroll down on this page to see: https://unglobalcompact.org/what-is-gc/participants/106861
Now lets look at the ISES Membership.
Clicking on that icon takes you to : https://www.ises.org/
Just simply the home page of ISES. Not even a page where we can see and verify that SunMoney is indeed a member.
But in any case, lets see how difficult it is to become an ISES member.
You and your company can become an ISES member by going to this link:
https://www.ises.org/membership/corporate-memberships/new-corporate-member
All you need to do is register a profile and pay a smaller sum of money! Wow, who would have thought that I could simply buy my way in?
There is no review, no supervision, no screening process.
Virtuzone Awards 2023 (paid for)
On sunmoney.com:
Is plain and simple a paid award.
If you got to the official nomination page: https://vzawards.com/
Simply scroll down (beyond the suspicious sponsored content) to the bottom.
You will see that it is organized by virtuzone and Entrepreneur middle east. Also you will see the copyright disclaimer “BNC PUBLISING“. This is the entity that set this website up. Who is that?
Lets google it.
It is an entitiy which owns Entrepreneur Middle East,
and they are doing omnichannel marketing for businesses (events, reports, news articles, podcasts and more).
Don’t think so?
Scroll down on any of their pages, and reach out to their sales email to get your very own award.
Global 100, 2020 Winner (paid for)
What a beautiful award this is! They must have worked hard to qualify for, and win the competition or voting to receive this award!
I mean they proudly show off this award on their website and the this award is part of the investor’s recruitment pitch (I am assuming).
Clicking on the icon, it takes you to this link: https://www.emgpublishinggroup.com/winners
Great article, but ignore it for now because its all sponsored (paid for).
What you should be looking for is in the top menu “award packages“, then click on “Global 100 Packages“.
Scroll down a little bit and you will find the award which SunMoney “got”, and you can purchase it for yourself for the small sum of 325 Euro, or buy the logo for 249 Euro.
You can buy yourself all the bragging rights you wish!:)
Here is the link if you are feeling lazy: https://www.emgpublishinggroup.com/global-100-packages
CV Award (Fake as well) "2019 best solar investment"
Currently (24th of march 2024), clicking on the icon’s link doesn’t even work.
It just takes you to: https://www.corporatevision-news.com/awards/
And gives a 404 not found error
On the same page, scroll down and click on the “terms of sale” in the bottom menu bar of the page.
Here the page which will open up is this: https://www.corporatevision-news.com/terms-conditions-of-sale/
The first sentence literally declares the entity which owns this site “A.I. Global Media Limited‘.
Doing a quick google search on this entity, you will find the wiki article.
Here is the link: https://en.wikipedia.org/wiki/AI_Global_Media
Here you can read in the first sentence that this entity is an organizer of vanity awards (meaning awards that one pays for to get).
Daca Awards - sunmoney- fake
Currently clicking on the award icon’s link, it doesn’t even want to load.
https://dataclimate.org/conference/best-paper-awards/
But one can only assume how “real” this award is…
In conclusion
The self promoted awards are fake. The memberships are paid or easy to apply. There is no real transparency.
I would give as much trust to this business as its marketing and promotional practices are.
For me if a company uses such a dishonest promotional and marketing techniques, that means that they are definitely a scam in my eyes.
If I were representing one of those “partners” mentioned on the site or United Nations Global Compact, I would immediately request them to take my brand off the SunMoney site.
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Wow.