New Study Shows Facebook Marketplace Is The Biggest Source of Ticket Scams

November 6, 2024
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A recent study by Lloyds Bank revealed that Oasis Live ’25 tickets have become a prime target for scammers and their platform of choice is Facebook Marketplace. Since the announcement of the Oasis reunion tour in August, around 70% of reported concert ticket scams have involved Oasis tickets.

Victims of these scams typically lose around £346, though some have reported losses as high as £1,000. Scammers are primarily targeting individuals aged 35-44, who make up 31% of fraud reports. High-profile events, like Oasis, Taylor Swift, and Adele with tickets selling for thousands of dollars, are attractive targets for scammers who can easily exploit eager fans.

“Fraudsters wasted no time in targeting loyal Oasis fans as they scrambled to pick up tickets for next year’s must-see reunion tour. The fact that so many cases start with fake listings on social media, often in violation of the platforms’ own rules, underscores the importance of these companies taking stronger action to tackle scams.”

-Liz Ziegler, Fraud Prevention Director for Lloyds

How the Scams Work

Scammers often trick fans into sending money via bank transfer for tickets that don’t exist. These scams involve fake advertisements, social media listings, or discounted ticket offers. Scammers also frequently target sold-out events, since they can inflate prices and the victims are more desperate to buy.

Tips to Avoid Ticket Scams

Scammers typically post fake tickets on social media in two waves: first, when tickets initially go on sale, and again closer to the event date. To protect yourself from ticket scams, remember these tips:

  • Stick to Trusted Retailers: Purchase tickets directly from the venue or authorized sellers like Ticketmaster. Avoid third-party sellers.
  • Beware of Deals That Seem Too Good to Be True: Discounted tickets on social media are often scams. Scammers can make significant profits from even a small number of victims. For example, if they sell to just 10 people looking for $40 tickets, they easily make $400.
  • Use Secure Payment Methods: Never pay for tickets via bank transfer, wire transfer, or money order. Use credit or debit cards, as credit cards offer additional protection and lets you dispute the charge.

Selling tickets on Facebook Marketplace directly violates the platform commerce policy. Despite this, many scams still occur, defrauding fans of their money. Be wary of any seller who requests payment via bank transfer (usually through social media), as this is a common red flag for ticket scams.

[H/T] Digital Music News