Oasis ticket scam costs estimated at over £2m

Fans that fell foul of scams linked to Oasis’ forthcoming UK tour collectively lost more than £2m, according to estimates from Lloyds Bank.

The banking group’s calculation is based on the volume of fraud reports made by its own customers.

Its data on reported concert ticket scams so far this year shows that Oasis fans make up more than half (56%) of the reports to date, at an average loss of £436. This is about £200 more than the average concert ticket scam loss, the bank added, with the biggest single reported case reaching in excess of £1,700.

The bank has received more than 1,000 fraud cases from its customers since the initial ticket sale last summer. Based on these figures, it estimates across the UK there are likely to have been over 5,000 victims since tickets went on sale.

Lloyds said reported scams often involved fake adverts or postings on social media. 

“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 at Lloyds, told The Guardian.

“It’s vital that consumers feel empowered to shop safely online. Buying directly from reputable, authorised retailers is the only way to guarantee you’re paying for a genuine ticket.”

Following the Oasis ticket sale last year, the government’s Competition & Markets Authority investigated Ticketmaster over concerns ‘in demand’ pricing practices were enforced.

In March, the watchdog said there was ‘no evidence’ Ticketmaster used dynamic pricing during the sale but did rule that the company ‘may have breached consumer protection laws’ over the labelling of certain seats in the venues.