Some famous sports stars around the world, including Brendan Fevola and Damien Oliver, have been seen wearing these faux performance enhancer wristbands. However, there have been no scientific credentials behind Power Balance’s claims.

ACCC chairman Graeme Samuel warned the country that these wristbands are not the real thing and told the people not to buy them. “I’m hoping they are not thinking it’s a good idea,” he said. “They cost a lot of money for something that may not do anything.”

Power Balance wristbands are claimed by their vendors and manufacturers to use holographic technology to enhance the body’s energy field. According to Power Balance website, it “is based on the idea of optimizing the body’s natural energy flow, similar to concepts behind many Eastern philosophies. The hologram in Power Balance is designed to resonate with and respond to the natural energy field of the body”. The success of Power Balance is through paid celebrity endorsements and effective marketing rather than through published scientific work.

The scrutiny of the company’s claim surfaced when it became a subject of significant criticism due to false advertising. Critics describe the product as “like the tooth fairy”.

As an attempt to discredit Power Balance’s claim of its products, researchers commissioned by the BBC conducted tests which showed that the bands were placebo–a sham. Prominent sports psychologists are vocal in their criticisms against the products and said that “proofs” of the enhanced sporting performance are based on anecdotal evidence or testimonies given by famous athletes and sportfigures who wear them.

Other countries like Italy are following the suit of Australia by scrutinizing and penalizing Power Balance. Italy’s Antitrust Authority fined the company with 300,000 euro for not providing scientific proof of their claims. ACCC’s ruling against Power Balance is definitely not exactly a news for thousands, if not millions, of Australians who were duped into buying these plastic wristbands at a price.