The European Commission launched an investigation after influencer marketing generated approximately 20 billion euros last year, according to euractiv.com.

The result was as follows: 97% of influencers posted commercial content, and only 20% of them marked it as advertising.

The study was conducted on 576 influencers from 22 member states, including Iceland and Norway, to verify their compliance with EU consumer legislation. Content creators are obliged to disclose their advertising activities.

The platforms they operate on include Facebook, Instagram, Snapchat, TikTok, Twitch, Twitter and YouTube.

"Content creators have a considerable influence on their followers, many of whom are minors. I urge them to be significantly more transparent with their audience", said EU Justice Commissioner Didier Reynders in a statement.

Of the influencers checked, 119 promoted "dangerous and unhealthy activities", including the consumption of fast food or alcohol, cosmetic treatments, gambling or cryptocurrency transactions.

The European Commission has stated that it could take action against 358 influencers if they do not comply with the rules, and the European Union is discussing the measures it should take if necessary.

A document consulted by AFP suggests that member states "consider developing an ethical code for influencers".

The document states that influencers can have a "positive impact" on young people, but warns of potential "harmful" effects.

This issue came to the forefront after a scandal last year involving Italian content creator Chiara Ferragni, who is being investigated for a cake business. She falsely suggested that the money from sales would go to children with cancer.