Rich Video Codec is one of many trojans that are distributed under innocent names of video codecs. Rich Video Codec may be required in order to watch a video downloaded from adult websites or sources that distribute pirated movies. Do not trust such a request and do not download video codecs unless they come from the official website of media player you use. RichVideoCodec is a threat to person’s privacy and security. It lowers security settings and this gives a green light to further infections. Rich Video Codec may also download other malwares on its own.

Source: http://www.2-viruses.com/remove-rich-video-codec