Taylor Swift: British fans scammed more than a million euros

British music fans have lost more than a million euros in counterfeit money scams on social networks, according to Lloyds Bank. 

The British retail and commercial bank has issued a warning to fans after analysing reports of customers who have been scammed since tickets went on sale last year.

More than 600 Lloyds Banking Group customers have reported being conned since Taylor Swift tickets went on sale in July 2023. Each victim lost £332 (€389) on average, though in some cases the loss was more than £1,000 (€1,170), according to Lloyds.

With the figures based solely on its own customer data, the British bank estimates that there have probably been "at least 3,000 victims in the UK since the tickets went on sale, and that over £1 million (€1.17 million) has been lost to fraudsters to date".

Swift is currently preparing to kick off the Europe and UK / Ireland legs of her record-breaking Eras Tour. The singer has sold out each one of her scheduled tour dates, leaving thousands more fans desperate for a chance to see her perform live. And considering the off-the-scale demand for tickets, scammers prey on people's desperation.

Lloyds Bank's fraud prevention director, Liz Ziegler, said: “For her legion of dedicated Swifties, the excitement is building ahead of Taylor's Eras Tour finally touching down in the UK this summer. However cruel fraudsters have wasted no time in targeting her most loyal fans as they rush to pick up tickets for her must-see concerts.”

Fans of Coldplay, Beyoncé and Harry Styles were also targeted by scams last summer - with an average loss of £133 (€155).

Ticket scams involve tricking someone into sending money via bank transfer, and often entail fake adverts, posts or listings on social media, offering tickets or access to events which have already sold out.

Ziegler, said: "It's easy to let our emotions get the better of us when we find out our favourite artist is going to be performing live, but it's important not to let those feelings cloud our judgement when trying to get hold of tickets.”

"Buying directly from reputable, authorised platforms is the only way to guarantee you're paying for a genuine ticket," she added.

Lloyds Bank offered the following tips to help avoid falling victim to ticket scams:

• Buy from trusted retailers. Only purchase tickets from well-known, official ticket platforms.
• Be cautious on social media - remember it is easy for fraudsters to create fake ads including pictures of real tickets.
• Avoid deals that look too good to be true. Tickets for sale at low prices or for sold-out events should ring alarm bells.
• Consider paying by debit or credit card. This helps to protect your money should something go wrong. PayPal is another option that gives people added protections if something goes wrong.