Lloyds Bank has issued a stark warning to all customers as many people lose out on around £110 on average.
Lloyds said scams relating to concert tickets surged by more than 500% over the last year, with demand to attend live events soaring in the aftermath of the pandemic.
The banking giant added that the number of scams reported by those attempting to buy music festival tickets also more than doubled, up by 128% over the last 12 months compared to the previous year.
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Over the last year, Harry Styles, Lewis Capaldi, Reading and Wireless were among the most common artists and festivals being targeted, based on ticket scams reported by Lloyds Banking Group customers.
Ticket scams usually involve fake websites, social media posts or emails offering tickets at discounted prices, or access to events which have already sold out at inflated prices. Victims are asked to pay upfront for the tickets, but once the payment is made, the scammers disappear, leaving the buyer without the tickets and out of pocket.
Liz Ziegler, fraud prevention director at Lloyds Bank, told the ECHO: “Fraudsters are always changing their tactics to trick victims out of their hard-earned cash. With demand to attend live events soaring as the warmer weather approaches, they’ll waste no time in targeting music fans as they rush to pick up tickets for the most popular gigs and festivals.
“It’s easy to let our emotions get the better of us when we find out our favourite artist is going to be performing live, but it’s important not to let that excitement cloud our judgement when trying to get hold of tickets.
“Buying directly from reputable, authorised platforms is the only way to guarantee you’re paying for a real ticket. Even then, always pay by debit or credit card for the greatest protection.
“If you’re being asked to pay by bank transfer, particularly from a seller you’ve found on social media, that should immediately set alarm bells ringing.”
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