Taylor Swift fans could have lost staggering £1 million to ticket scams, bank warns

Taylor Swift fans have been swindled out of an estimated £1 million by ticket fraudsters, according to a warning issued by a bank.

Lloyds Bank has revealed that over 600 of their customers have reported being victims of scams in the lead-up to the pop sensation's Eras Tour, set to hit the UK in June.

The average loss per victim stands at £332, with some unfortunate fans losing over £1,000.

The bank estimates that since tickets went on sale last July, there are likely to be at least 3,000 victims across the UK, with losses exceeding £1m to fraudsters.

Lloyds discovered that more than 90% of reported cases originated from fake adverts or posts on Facebook.

Numerous unofficial groups, some boasting tens of thousands of members, have been created specifically for people looking to buy and sell tickets for Taylor's concerts.

Fraudsters typically request payment upfront and then vanish once the money has been transferred. There are usually two waves of fraud the first when tickets initially go on sale and the second around the time the event takes place.

Fans of Taylor Swift have been warned to be on the lookout for scammers as they rush to get tickets for her upcoming Eras Tour UK dates.

The tour, which kicks off in Edinburgh on June 7 and wraps up at London's Wembley Stadium on August 20, is expected to be a massive draw, attracting over 1.1 million attendees and generating a £450 million boost to the UK economy.

Lloyds Bank fraud prevention director Liz Ziegler cautioned fans: "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.

"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."

Tickets for the UK leg of the tour cost an average of £110 each, and those attending are expected to spend around £400 each in total.

• Here are some tips to protect yourself from ticket scams:.
• Buy tickets from official sources.
• Be wary of suspiciously low prices.
• Don't share your personal information with anyone you don't trust.
• Report any suspicious activity to the authorities.

Meta, the tech giant behind Facebook, has issued a statement saying: "We are continually investing in protections against fraud on our platforms, and work with law enforcement to tackle this issue.

"We advise users of Facebook Marketplace to never pay for something until they see it in person and to report any scams immediately."

Meanwhile, Taylor Swift fans are buzzing with excitement as her 11th studio album, The Tortured Poets Department, is set to drop this Friday.

An AI tool was used to bring an extra layer to this story.