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Increase in Fake Tickets Being Sold by Cybercriminals on Social Media

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      Published on 05 August 2022
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      Cybersdecurity RedFlag

      Football fans have been warned to exercise caution when online shopping after it has emerged that fraudsters are increasingly taking to social media to sell non-existent tickets for events.

      According to Lloyds Bank data revealed that incidents surged between January and June 2022, with an average loss of £410 per victim.

      Tickets for the top six English clubs plus internationals and European games are the most sought after and therefore most at risk of scams similar to these. For cup finals, some victims have lost thousands of pounds on fake tickets.

      The fear is the fraudsters will double down on these tactics as the new Premier League season gets underway in the UK this coming weekend.

      The scammers typically advertise on social media, often accompanies by a fake image, and then request payment via bank transfer. There is no fraud protection via BACs for victims.

      Tickets for concerts and other sold out events are targets for scammers too. Lloyds bank said that fraud cases involving the concert tickets have risen by 72% so far in 2022.

      Lead security awareness advocate at KnowBe4, Javvad Malik, warned that consumers should be wary if a deal appears too good to be true (because it usually is!)

      He said, “while it can be tempting to buy tickets from touts or other unauthorized channels, people should always do their due diligence as to what kind of website or individual they are making purchases from.”

      “In particular, they should look out for red flags such as pushy sales techniques, limited offers, heavily discounted prices, or payments requested through unconventional channels such as through bank transfers.”

      CEO of CyberSmart, Jamie Akhtar, said that football and concert tickets have been popular targets for years.

      “If you do find yourself buying on the reseller market, stick to licensed ticket resellers and avoid buying from strangers on social media,” he advised. “For every legitimate fan selling a ticket, there will be dozens of fraudsters looking to make a quick buck or steal your financial details.”

      The post Increase in Fake Tickets Being Sold by Cybercriminals on Social Media appeared first on IT Security Guru.

      source

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