Ticket and Facebook Marketplace scams have cost Aussies a whopping $36m over 2023 by exploiting a “fear-of-missing-out” phenomena, a security expert has revealed.
The staggering figure comes in light of major music acts like Paul McCartney beginning his Got Back Tour in mid-October, while Taylor Swift prepares for her highly anticipated Eras Tour in February next year.
An Australian mother lost $1800 after trying to purchase tickets to Taylor Swift‘s Eras tour from a mutual friend on Facebook, which was later revealed to be a scam.
NAB security advisory and awareness manager Laura Hartley revealed the $36m lost to ticket and marketplace sales was due to scammers playing on people’s FOMO (fear-of-missing-out), responding to fans on social media looking for tickets.
They would otherwise make bogus listings that don’t actually exist, she said.
At least $220,000 worth of payments are abandoned daily after the alert is received, according to NAB’s latest data.
Ms Hartley said ticket scammers are rapidly becoming more sophisticated, with reports of social media accounts being hacked to sell fake concert tickets to trusting close friends.
“Be extremely cautious about buying tickets online via social media,” Ms Hartley said.
“We’re hearing about criminals hacking social media profiles and selling bogus concert tickets to the account owner’s friends, who aren’t aware someone else is controlling the account.
“Even if it’s a friend you legitimately know, pick up the phone and talk to them directly before sending money.
“We’re hearing about criminals hacking social media profiles and selling bogus concert tickets to the account owner’s friends, who aren’t aware someone else is controlling the account.
“Even if it’s a friend you legitimately know, pick up the phone and talk to them directly before sending money.”
Earlier this year NAB released their proactive alert technology in March, a device which sends a pop-up warning to customers if their transaction appears suspicious or out of character.
When it launched it was trained to hone in on investment style scams, it has recently been redirected to target ticket and marketplace sale transactions.
The bank has also released a new ad campaign platforms including Spotify, Gumtree and Facebook Marketplace to remind Australians of the potential risks they can encounter when engaging in these online transactions.
Customers are urged to contact their bank immediately if they think they’ve been scammed.
