Lloyds Bank has issued an urgent warning to people who are aged 25 to 34 and who have bank accounts. More than £1 million could already have been lost in the UK to fraudsters pretending to offer Taylor Swift concert tickets, Lloyds has warned.
90 per cent of the reported concert ticket scams started on Facebook. Lloyds estimates that across the UK there are likely to have been at least 3,000 victims since tickets went on sale, with over £1 million being lost to fraudsters so far. More than 90% of reported cases start with fake adverts or posts on Facebook, which includes Facebook Marketplace.
A search of Facebook revealed dozens of unofficial groups have been set up, many with tens of thousands of members, specifically for people looking to buy and sell tickets for Taylor Swift concerts. Likewise Facebook Marketplace has various listings for tickets at venues all over the country.
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Among the other major artists most commonly targeted last summer were Coldplay, Harry Styles, and Beyonce. Across all concert ticket scams victims were losing £133 on average. Purchase scams happen when someone is tricked into sending money via bank transfer (also known as a Faster Payment) to buy goods or services that don’t exist.
Ticket scams usually involve fake adverts, posts or listings on social media, offering tickets at discounted prices, or access to events which have already sold out at inflated prices. There are often two waves of fraud; the first when tickets go on sale and the second around the time an event takes place.
Only purchase tickets from well-known, official ticket selling (or reselling) platforms. Take extra precautions when buying tickets from third-party sellers, Lloyds has said. Tickets for sale at low prices or for sold-out events should ring alarm bells. Ask yourself if the deal seems realistic.
Pay with your debit or credit card – because this helps to protect your money should something go wrong. PayPal is another option that’s usually safer than paying by bank transfer.
