Latest news with #WeFightFraud
New Statesman
13-06-2025
- Business
- New Statesman
Restricting ticket resale empowers fraudsters
Photo Credit: BestForBest / Shutterstock I posed as a desperate fan trying to buy tickets to a Premier League match. Within minutes, I was chatting in a Facebook group where a 'seller' offered me a ticket for £150. I was told to pay a £50 'name change fee' and to transfer it to a bank account under someone else's name. As soon as I sent the money, I was blocked. No ticket. No seller. No trace. This wasn't a one-off. It's the reality of the ticketing black market – a fastgrowing, digital criminal underworld that thrives when regulation drives consumers away from legitimate resale platforms and into the shadows. Amid the UK government's current consultation on secondary ticketing, calls are growing for price caps. It may seem like a sensible solution to preventing inflated prices. From where I'm sitting, it's a fraudster's dream. Bans and caps won't stop the scammers. They'll supercharge them. As CEO of We Fight Fraud, a unit consisting of former police, intelligence officers, academic researchers, cyber specialists, and financial crime experts, we set out to answer a simple question: What happens when you try to buy tickets in a market where price caps have been introduced? Do price caps work? The results of our research were alarming. In over half of our test purchases, buyers were scammed. When tickets did arrive, they had typically been resold illegally. The purchasing process was often drawn out and opaque, with communications coming from international phone numbers and payments requested via suspected money mule accounts. Rather than protecting consumers, price caps or a ban on ticket resale will push legitimate demand for tickets underground, into social media platforms, where fraudsters thrive. This risk is well-evidenced in other markets. In Ireland, resale above face value has been banned for designated events since 2021. We put this to the test to see if it works. We very quickly found two pairs of tickets to a Teddy Swims event, one from a social media site and the other from a ticketing website, which is in clear violation of the law, but lists the tickets regardless. Both sets were priced at over four times the face value, with a string of additional charges. Clearly, these price cap regulations are being circumnavigated. Subscribe to The New Statesman today from only £8.99 per month Subscribe The price of good intentions When looking at the overall live events industry, new research from Bradshaw Advisory, verified in our own testing, found that since price cap restrictions were brought into both Ireland and Victoria, Australia, 13.6 per cent of consumers have reported being scammed, compared to just 3.8 per cent in the UK. That's more than triple the fraud rate. Data from the National Fraud Intelligence Bureau, Action Fraud and the National Crime Agency shows that the cost of reported ticket fraud for England and Wales was £70m last year. Introducing caps could increase this to a £280m loss. The reality is that the introduction of price caps pushes people out of safer environments and into riskier ones. When you remove legal resale routes, desperate fans turn to social media channels. Data by Get Safe Online revealed that one in eight buyers have reported being scammed when looking for tickets on social media, and history suggests price caps will increase these numbers. Our team found that three out of four tickets purchased via social media in test cases were either fake or never arrived. Those are not odds fans should be gambling with. Nowhere is ticketing fraud more prevalent than in football. In the UK, football ticket resale is a criminal offence under the 1994 Criminal Justice and Public Order Act. The intention was to protect fans, but it inadvertently created the perfect conditions for scammers. We attempted to buy five tickets to Liverpool vs Southampton from a mix of platforms, including unregulated resale sites and social media groups. Two were outright scams, and two were legitimate tickets, but obtained illegally by proxy, using another person's membership details. In one case, a fraudster demanded extra payment for 'name change' after the initial payment was sent, before vanishing. Another provided bank details that didn't match the seller's name, which is a classic money-muling tactic designed to hide the true recipient and launder proceeds of fraud. What became apparent was that these weren't amateur scammers. They were organised networks. The looming financial fallout: APP Fraud The scam doesn't end with the fan who gets ripped off. Since October 2024, banks have been legally obligated to reimburse victims of Authorised Push Payment (APP) fraud (scams where consumers willingly transfer money to fraudsters). In our ticketing fraud investigations, every social media scam was an APP fraud. Money was sent directly to accounts controlled by criminals or their mules. This shows when policy displaces fans into high-risk environments, the cost of fraud doesn't just fall on the victim, it falls on every bank, every business, and eventually, every consumer. If resale caps increase fraud, which the data strongly suggests it does and will, the banking sector and the wider economy will shoulder the consequences. Fans will find a way Advertorial In partnership with There is one unavoidable truth that policymakers must reckon with: there is persistent, legitimate demand for secondary tickets. If fans can't buy them safely, they'll buy them anyway. We have a choice. We can pretend price caps will solve the problem and let fraud flourish in the shadows. Or we build on a secure, transparent, regulated resale ecosystem that protects fans, cracks down on crime and brings accountability to the market. Because resale isn't the enemy. Fraud is. And right now, by driving fans underground, we're not just ignoring the threat – we're handing fraudsters the keys to the kingdom. Nicola Harding is the CEO of We Fight Fraud. This piece is sponsored by Viagogo. Related
Finextra
05-06-2025
- Business
- Finextra
We Fight Fraud adopts Salv Bridge to share real-time scam intelligence with banks
We Fight Fraud (WFF), a specialist financial and cyber crime consultancy, has selected European Regtech scale-up Salv to share intelligence with financial institutions across Europe. 0 We Fight Fraud regularly carries out research that reconstructs the tactics used by criminals to commit financial scams. These initiatives aim to uncover vulnerabilities so banks and fintechs can better protect their customers. During these exercises, WFF discovers fraudulent and money mule accounts. Until now, they've lacked a fast, secure way to share this intelligence. Using Salv Bridge, We Fight Fraud can now deliver that intelligence instantly through a compliant, secure, and structured messaging platform purpose-built for collaborative financial crime investigations. Over 100 banks, fintechs and PSPs across Europe use Salv Bridge to share intelligence for authorised push payment (APP) fraud recovery, collaborative AML investigations, automated RFIs, and suspicious IBANs. Alerts exchanged through Salv Bridge have a true positive rate of over 90%, and companies see recovery rates of stolen funds as high as 80% 'Speed is everything when we uncover criminal accounts or active scams,' said Dr. Nicola Harding, CEO at We Fight Fraud. 'Salv Bridge gives us an easy way to share vital signals in the moment. It means our insights reach the right hands faster, enabling quicker interventions and stronger protection for customers. That's the difference we're here to make.' 'Intelligence sharing is no longer a theory. It's happening,' said Taavi Tamkivi, Co-founder and CEO at Salv. 'Hundreds of financial institutions and national associations are now taking it seriously. Any party that uncovers vital crime signals needs a fast, secure way to share them across borders and sectors. Salv Bridge is that channel. Built to the highest privacy and security standards, organisations can finally move faster than the criminals.'
Daily Mirror
03-06-2025
- Business
- Daily Mirror
Brits face £100million in ticket scams this summer if resale price caps hit
Experts have warned that the UK Government's proposal to cap resale prices could end up playing straight into the hands of scammers as fans turn to risky ways to get tickets Experts have warned that Brits could be conned out of £100million in ticket scams this summer alone, if price caps are introduced on ticket resales. Data from the National Fraud Intelligence Bureau, Action Fraud and the National Crime Agency revealed that ticket fraud across England and Wales cost a staggering £70 million in 2024. This year, the figure could skyrocket to £280 million, as anticipation builds around Glastonbury, Wimbledon, and the eagerly awaited Oasis tour. More than a third of scams, amounting to £100 million, are expected to occur in the next few months if price caps plans are imposed. The data comes from Bradshaw Advisory and independent research by anti-fraud organisation We Fight Fraud. They suggest that scams could quadruple if price caps are introduced. They warn that the UK Government's proposal to cap resale prices could inadvertently aid scammers, making it easier for fraud to thrive as desperate fans resort to riskier methods to secure tickets. Dave Eborne, head of fraud operations at Revolut, commented: "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." He added: "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." Research indicates that Ireland and Victoria, Australia - two regions that have introduced price caps - have seen a significant surge in reports of ticket fraud. The Bradshaw Advisory highlighted that in Ireland, where price caps are in place, 13.6% of fans reported being scammed - a figure more than triple the UK's rate of 3.8%. There could also be broader implications. Since October 2024, UK banks have been obligated 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 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.
Scottish Sun
03-06-2025
- Business
- Scottish Sun
Brits face losing £100million in ticket scams this summer if resale price caps are introduced, experts warn
SCAM FEARS 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. Advertisement 3 ticket scams soared by 40 per cent ahead of Taylor Swift's London gigs last August Credit: Getty 3 Ticket fraud across England and Wales cost £70million in 2024. Credit: Getty 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. Advertisement 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." Advertisement 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. Advertisement "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.
The Sun
03-06-2025
- Business
- The Sun
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. 3 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. 3
