The ACCC has commenced a sweep to identify misleading testimonials and endorsements by social media influencers, based on consumer tip-offs.

In a media release on Friday, the consumer protection agency said it will also look at more than 100 influencers mentioned in over 150 tip-offs from consumers who responded to the ACCC’s Facebook post asking for information.

Most of the tip-offs from members of the public were about influencers in beauty and lifestyle, as well as parenting and fashion, failing to disclose their affiliation with the product or company they are promoting.

Although the move by the ACCC covers a broader base than finfluencers, the move was welcomed by financial services minister Stephen Jones in a separate media on Friday.

“Commercial arrangements need to be disclosed when influencers recommend a product so “consumers can make fair and informed decisions,” Jones said.

The ACCC’s compliance program puts social influencers on notice to be up front with their followers and disclose commercial relationships.”

ASIC put finfluencers on notice last March, threatening fines and jail time for circumventing the law.