Taylor Swift fans in the UK could have already lost more than £1m to con artists pretending to sell concert tickets for her Eras tour, a major bank has estimated.
Lloyds Bank has issued a warning to fans based on an analysis of purchase scams reported by its customers, as well as those of Halifax and Bank of Scotland, where Swift and/or the Eras Tour were referenced as part of the claim.
More than 600 Lloyds Banking Group customers have reported being scammed since tickets went on sale in July 2023.
Each victim lost £332 on average, though in some cases the loss was more than £1,000, Lloyds said.
With the figures based solely on its own customer data, Lloyds estimates there are likely to have been at least 3,000 victims across the UK – with more than £1m lost to fraudsters – based on its current account market share and assuming similar trends across other UK banks.
Fans aged 25 to 34 trying to buy sold-out tickets are most likely to be targeted, with many scams originating on social media, Lloyds warned.
Beyonce fans in the UK have also fallen victim to scams. Pic: AP/Chris Pizzello
Fans of Coldplay, Beyonce and Harry Styles were also targeted by scams last summer, it added.
Purchase scams involve tricking someone into sending money via bank transfer to buy goods or services that are fake, shoddy, or do not exist.
Ticket scams often involve fake adverts, posts or listings on social media, offering tickets or access to events which have already sold out as fraudsters know they can cash in on eager fans willing to pay much more by falsely claiming to have tickets for sale.
Swift’s record-breaking Eras tour is set to gross more than $1bn (£813m), according to reports, with tickets for shows selling out as soon as they went on sale.
By the time it ends in December, the star will have played more than 150 shows across five continents.
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‘If it looks too good to be true, it probably is’
Lisa Webb, consumer law expert at Which?, said people buying gig tickets should use a credit card for anything costing more than £100, or PayPal, as both these methods can provide protection.
“We’ve heard from disappointed Swifties who have bought tickets on social media, only to realise it’s a scam when their promised tickets never materialise,” she said. “Unfortunately, if it looks too good to be true, it probably is.
“Don’t be tempted to buy tickets from anyone other than authorised sellers, as your rights can be significantly reduced if something goes wrong.”
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Anyone who thinks they have fallen victim to a ticket scam should contact their bank and report it to Action Fraud or Police Scotland, she added.
Liz Ziegler, Lloyds Bank fraud prevention director, said: “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 those feelings cloud our judgement when trying to get hold of tickets.”