From Taylor Swift tickets to Uggs… big banks list the top scam trends for 2024
Shoppers have been warned to beware of scams when buying tickets, pets, vehicles and designer goods online in 2024.
Thousands of people looking for tickets, cars, pets and more were tricked into handing over money to fraudsters this year, with purchase scams up 42 percent compared to last year.
Social media was the main hunting ground for scammers, with almost four in five purchase scams starting on these platforms.
Scam watch: Lloyds Bank has warned that shoppers should be wary of scams in 2024, including pets, tickets, vehicles and designer goods
With few controls, no secure payment processes, and no financial incentives to protect their users, fraud is rife on social media platforms.
According to Lloyds Bank, these are the biggest scams consumers should watch out for in 2024.
Ticket scam
In 2023, concert ticket scams increased by 529 percent, while football ticket scams increased by 101 percent.
The average loss in concert ticket scams was £110 and £159 in football ticket scams.
In 2024, Lloyds Bank warns concert and football goers to be extra careful when looking for UEFA Euro Championshipthe Summer Olympics in Paris and Taylor Swift's world tour.
Popular events present great opportunities for scammers: when tickets are scarce, fraudsters cash in on desperate fans.
The two “peaks” for these types of scams occur when the tickets are released and right before the event date.
Pet scams
Pet scams rose 24 percent in 2023 as shoppers looked for a new furry friend. The average loss from this type of scam was £307.
The top dog breed scammers are being targeted Yorkshire terriers, rottweilers and pomeranians, So shoppers should be wary of scams when looking for one of these types as a pet.
Lloyds advises shoppers to never part with money sight unseen for an animal and to always search through registered charities or breeders.
Vehicle fraud
Vehicle fraud increased by 74 percent in 2023 and the average loss due to vehicle fraud was £998.
The most targeted vehicles used by scammers are Ford Fiestas, BMW 1 Series and Volkswagen Transporters.
When buying a car, consumers have to look for excuses. Viewing a vehicle is a necessary upfront payment, so if the seller has endless excuses as to why this is not possible, do not hand over any money under any circumstances.
Designer goods
These scams have increased by 23 per cent in 2023 and the average loss from designer goods scams was £177.
Shoppers looking for new Nike Jordans or Methinks, Ugg boots should be wary as these were the labels most often targeted by scammers, along with items from Louis Vuitton and Chanel.
If a deal seems too good to be true, it probably is, especially when it comes to items that are out of stock at traditional retailers.
Compare prices from trusted sources and the designer's official website.
Holiday fraud
The first Saturday after the return to work in January is traditionally a popular time for people to book a holiday abroad.
This is a golden opportunity for fraudsters to target hopeful holidaymakers.
Lloyds data shows that airline tickets are the top-selling counterfeit holiday item, but it's not just the idea of flying abroad that inspires victims' confidence.
The popularity of the 'staycation' remains high, with caravan holidays the second most popular holiday scam.
Nearly half of all vacation fraud originates on Facebook Marketplace, but these scams can occur through more trusted websites like AirBnB and Booking.com.
Victims arrive with their suitcases full for an exciting trip, only to discover that the address their host gave them is fake or that the apartment they think they have rented is actually someone else's home.
To avoid vacation fraud, purchase tickets and hotel stays from trusted retailers or, even better, directly from the airline or hotel. When booking stays, look for valid reviews on websites such as TripAdvisor.
Liz Ziegler, director of fraud prevention at Lloyds, said: 'Fraudsters are constantly looking for ways to cheat people out of their hard-earned money and if you're not on your guard when shopping online, you could be their next victim.
'Don't be fooled into trusting a stranger on the internet for a quick bargain.
'Social media is full of fake ads from criminal sellers – if something is in high demand and difficult to obtain from trusted retailers, it's probably unrealistic to think you found it for half the price on Facebook Marketplace .'
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