$1.2 million dollars. In their innocuous efforts to see their favorite artist during the Eras tour this summer that’s how much Swifties lost to concert ticket scams in the UK alone. Based on the disputes Lloyd’s Bank processed in the UK, in just a few months, 600 customers reported being scammed with most losing at least $400 dollars and some losing up to $1300.

The Scam Unveiled

The damage was unimaginable for many, including Sian Williams, the mother of Efa, a hardcore Taylor Swift fan who was promised by her mom that she would get to see the star as a reward for finishing up her A-level-exams. Hoping to make her daughter happy, Sian looked high and low for tickets. The initial official ticket sale had already taken place in 2023 (and sold out within minutes) but she was determined to find a trustworthy reseller.

After searching, Sian learned of a mutual acquaintance who claimed to have purchased 4 tickets to the Liverpool show. Sian was ecstatic, hoping she would get to finally make this once in a lifetime opportunity and her daughter’s dream come true. The seller was asking for $500 for all four tickets, a great deal that Sian was incredibly excited to take advantage of. Sian took all the necessary precautions and even asked the seller for screenshots and seating arrangement details to ensure the transaction would actually take place. The communications were all taking place over WhatsApp. But suddenly, something didn’t seem right and after sending the first half of the payment Sian became suspicious of who this mutual friend really was. It turned out that this person was actually impersonating her mutual friend and Sian recommended that people should be careful not to do “unwise things in the heat of the moment” because “once that money’s sent it can’t be retrieved” in a statement to the BBC UK.

Unfortunately, Sian’s story has become all too common among the Taylor Swift frenzy. Across Reddit, Twitter, Instagram and TikTok the internet is flooded with situations where people are unassumingly scammed out of hundreds of dollars. Their only mistake was trying to see a concert that 31 million other people had also wanted tickets for, leaving an opportunity for scammers to swoop in and take advantage.

According to Liz Zieglar, a fraud prevention director, “If you’re being asked to pay by bank transfer, particularly from a seller you’ve found on social media, that should immediately set alarm bells ringing.” Awareness is key and when possible it is best to buy directly from reputable companies and platforms. But in cases like buying Taylor Swift tickets, where shows are sold out in minutes, this is not always possible. Luckily, there are still ways for people to protect themselves from scams.

Lessons Learned

Scams like the Era’s tour ticket fraud exploit the emotions and desires associated with limited-time offers, preying on people’s trust and eagerness. This is why the following practices are crucial to transaction safety.

1. Verification is Essential: Before purchasing any goods or services, take extensive measures to verify the authenticity of the products or services being dealt and the track record or history of the seller. Any reputable seller should be able to provide proof of ownership and have some sort of support behind them whether it be online reviews or trusted word-of-mouth recommendations.

   
   

2. Be Wary of Upfront Payments: The most difficult situation to recover from is one where the money has already been sent. Knowing this fact, scammers often try to pressure victims into upfront payments. After money has been transferred there’s little to nothing that the victim or their bank will be able to do to reverse the transaction, meaning the money is likely lost forever.

   
   

3. Use Secure Transaction Services: Utilizing platforms that offer secure transactions can significantly reduce the risk of falling victim to scams. While not always convenient or possible, making ticket purchases is safest to do directly on the Ticketmaster platform in the same way that plane tickets are most trustworthy when being bought directly from the airline.

While all of these best practices can help in preventing such situations from happening to you, the hope still is that one day we can engage in transactions like off-platform ticket transactions without fear. And luckily, with MidPay that day is very near.

Why MidPay is the Solution

MidPay is an escrow-based transaction service meant to simplify transactions and protect your funds. By using an escrow protocol, MidPay ensures that your funds are never actually sent until all conditions of the transaction are met i.e. in Sian’s case that she’s actually received her tickets. The app is also able to help prevent fraud in the first place since sellers know they won’t receive the funds until they fulfill their part of the deal, incentivizing honest transactions. Further, if any disputes occur MidPay’s resolution process ensures fair outcomes for everyone involved. Finally, transparency and trust are integral to any transaction and MidPay’s processes promote both things to make online transactions safer and more reliable.

Download MidPay on the App Store today!