Reports of people being scammed when trying to buy concert tickets have surged, a major bank is warning.
With demand to attend live events soaring after the coronavirus lockdowns, Lloyds said music lovers hoping to see their favourite artists perform live this summer need to be on their guard.
According to the bank’s data, reports of people being scammed when buying concert tickets have surged by 529% over the past year, with victims losing £110 on average.
The number of scams reported by those trying to buy music festival tickets has also more than doubled, increasing by 128% over the past year compared with the previous 12 months.
The bank compared purchase scams reported by Lloyds Banking Group customers between March 2022 to February 2023, with reports made over the 12 months from March 2021 to February 2022, to make the findings.
Fans of major artists and festivals are often likely to be targeted, the bank warned.
Lloyds said that, based on ticket scams reported to its banking group, scammers have been pretending to offer tickets to see popular acts and performers such as Harry Styles, Lewis Capaldi, Coldplay and Calvin Harris, as well as to various festivals.
Scams can happen when someone is tricked into sending money via bank transfer, also known as a faster payment, to buy goods or services that do not exist.
Ticket scams usually involve fake websites, social media posts or emails offering tickets at discounted prices, or access to events that have already sold out.
Victims are asked to pay upfront for the tickets, but once the payment is made, the scammers disappear. This leaves the buyer without the tickets and out of pocket.
When tickets for an event are scarce, fraudsters know they can cash in on desperate fans willing to pay much more, Lloyds said.
Liz Ziegler, the bank’s fraud prevention director, said: “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.”
Here are some tips from Lloyds to stay safe when buying tickets:
– Think about how you pay. Bank transfers can be the electronic equivalent of handing over your cash to someone in the street.
Paying by card can give people added protections if something goes wrong.
People who pay by credit or debit card can benefit from the well-established section 75 and chargeback rules, which could help them to get their money back.
Paying by PayPal can also give consumers added protections.
– Bear in mind that fraudsters will target any major event where demand for tickets is likely to exceed supply. Watch out for “too good to be true” offers. Tickets for sale at low prices or for sold-out events should ring alarm bells. Ask yourself if the deal seems realistic. The Take Five campaign encourages people to pause to think before handing over any money or personal details. Do not feel pressured into making a quick decision.
– Buy from trusted retailers. Only purchase tickets from well-known, reputable ticket-selling platforms. Take extra precautions when buying tickets from third-party sellers.
– Be cautious on social media. It is easy for fraudsters to create fake ads including pictures of real tickets.
