Brits face losing £100million in ticket scams this summer if resale price caps are introduced, experts warn
BRITS could be ripped off by £100million in ticket scams this summer alone if price caps are introduced on ticketing resale – as fraudsters target the biggest events of the year, experts have warned.
Figures from the National Fraud Intelligence Bureau, Action Fraud and the National Crime Agency revealed ticket fraud across England and Wales cost £70million in 2024.
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But this year, the figure could rocket to £280million, with potentially more than a third of scams expected to hit in the next few months– £100million – if price caps are imposed as excitement builds around Glastonbury, Wimbledon, and the long-awaited Oasis tour.
The findings come from Bradshaw Advisory and independent research from anti-fraud organisation We Fight Fraud, which says scams are likely to quadruple, should price caps be put in place driving consumers to unregulated platforms and risky social media sites.
It follows data from Revolut which showed ticket scams soared by 40 per cent ahead of Taylor Swift's London gigs last August.
Experts say the UK Government's proposal to cap resale prices could end up playing straight into the hands of scammers – making it easier for fraud to flourish as desperate fans turn to riskier means of securing tickets.
Dave Eborne, head of fraud operations at Revolut, said: "We know that highly anticipated events, like concerts and sports matches, can become a target for unscrupulous criminals preying on enthusiastic fans.
'Especially with sought-after tickets, fraudsters leverage both the fear of missing out on a unique opportunity and a sense of urgency due to scarcity and high demand.
'The idea that a potential ticket could disappear quickly encourages people to act fast without thinking – but it's vital that consumers look for tell-tale warning signs before handing over their hard-earned cash.
'As We Fight Fraud's research shows, banning or capping resale doesn't stop these scams; it simply provides another platform for them to thrive, costing fans and the wider economy through increased fraud."
The research points to data from Ireland and Victoria, Australia - two regions that have introduced caps and seen significant increase in reports of ticket fraud.
The Bradshaw Advisory identified in Ireland, where price caps exist, 13.6 per cent of fans reported being scammed - more than three times the UK's 3.8 per cent rate.
And there could be a wider impact as well, as since October 2024, UK banks have been required to reimburse victims of Authorised Push Payment (APP) fraud, which includes most ticket scams.
Dr Nicola Harding, from We Fight Fraud, said: 'Price caps don't stop fraud - they multiply it and we could see live event fans defrauded to the tune of £100 million this summer.
"Smart, transparent regulation of the resale market, and robust consumer education on the warning signs of ticket scams, are the only real solutions to protect fans."
TOP TIPS TO AVOID AND SPOT A TICKET SCAM
Do your homework:
Purchase tickets only through a legitimate and regulated platform. If you are unsure of a website's legitimacy, you can check it by using Get Safe Online's Check a Website tool
Cover yourself:
Ensure platforms offer fan protection with a guarantee should anything go wrong.
Resist the hard sell and social media:
Getting in-demand tickets can feel like a race against time but don't let individual sellers pressure you into a quick purchase. Avoid buying tickets on social media where many sellers are unverified, increasing the risk of scams or counterfeit tickets.
Verify the venue and date:
If the event is taking place at a venue unknown to you, then confirm its existence through online maps and look for independent reviews. Once you have done so, search the original live event announcement or schedule on the artist or team's website to make sure dates and location align.
Price check reality:
If a deal seems too good to be true, it probably is. Avoid suspiciously cheap tickets.
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