Monzo has issued a warning ahead of Halloween and Christmas, urging people to stay vigilant as ticket scams and fake event tickets UK-wide can see victims lose an average of £1,295 per person.
The UK bank, serving more than 16 million personal and business customers, has called on people to remain vigilant over the coming months, cautioning that they could fall victim to fraudsters.
Rising demand for event tickets
With Halloween and Christmas fast approaching, demand for event tickets is set to soar. From Santa Claus (or Santa Paws) meet-and-greets to Halloween party nights and themed outdoor cinemas, popular events can sell out rapidly, prompting people to purchase tickets wherever they can find them - even when a listing appears suspicious.
Earlier this year, Monzo carried out research revealing that the true cost of ticket scams frequently extends far beyond the face value of the ticket itself. When additional event-related expenses are factored in, the findings indicate that the average loss climbs to £1,295 per person - and if, for instance, the Halloween event ticket you purchase turns out to be fraudulent, that's £1,295 stripped from your account that you may never recover.
Additional costs of ticket scams
For Halloween, these surrounding costs mount up alarmingly quickly. Monzo discovered that amongst those who fell victim to ticket scams:
- 32% lost money on travel, transport, hotels, or accommodation
- 28% lost money on food and restaurant bookings
- 24% lost money spent on clothes bought specifically for the event such as costumes and outfits
- 23% lost money on childcare, pet care, or time booked off work
- 39% spent even more money trying to salvage their plans with alternative activities
It's not just Monzo customers who could be at risk. This can happen to anyone, at any bank, with any card, at any event, and at any age. That's why everyone should remain alert whenever making a purchase - particularly during hectic periods.
Monzo's advice to avoid scams
Gareth Murray, senior director of financial crime and fraud at Monzo, explained: "Halloween marks the start of the party season, where people are making plans and buying tickets to popular events. But this excitement, especially when events sell out, can create opportunities for scammers to take advantage."
He added: "To stay safe, always buy through official channels, avoid bank transfers to sellers on social media, and remember that if a price looks too good to be true, it usually is. At Monzo, we proactively protect customers from fraud and scams, with real-time scam warnings, 24/7 support, and industry-first security features like Call Status and Added Security."
Six ways to avoid ticket scams this Halloween
Beware of urgency tactics: Fraudsters create pressure with statements such as "last few tickets left" or "buyers waiting" to rush you into a decision. Take a moment to pause, question the request, and verify if you feel completely confident before making a payment.
Exercise caution on social media: More than 80% of ticket scams begin on social media platforms, community groups or direct messages where fraudsters target trusting users. Try to buy from official venue ticketing partners or authorised resale platforms with verified buyer protection only - if bought through an official merchant, a refund is guaranteed if the ticket is fake.
Watch for the STAR: Check whether the vendor displays the STAR logo; this indicates they're a member of the Society of Ticket Agents and Retailers, which demonstrates that they comply with the appropriate regulatory standards.
Steer clear of direct bank transfers: Be suspicious of sellers requesting direct bank transfers or peer-to-peer payments, as these provide considerably less buyer protection than credit or debit cards if the ticket proves to be fake. Instead, try to exchange the money face-to-face in a secure location and observe the seller's reaction to this suggestion, if it becomes complicated be aware that this may be a scammer.
Identify 'too good to be true' prices: If a ticket for a sold-out Halloween event or immersive experience is advertised well beneath face value or unusually cheap when demand is extremely high, consider it a warning sign.
Report suspicious listings straight away: If you believe an offer is fraudulent, report the seller's profile on the social media platform directly and notify your bank immediately. If you bank with Monzo, you can speak to us directly in the app, 24/7.
How Monzo protects customers from purchase scams
Monzo blends real-time security measures with intelligent app features to prevent ticket scams before funds even leave an account. This means customers can utilise the following to remain as protected as possible:
- Undo Payments: If you discover you've made a payment while under pressure or transferred money to an incorrect recipient, Monzo offers an instant Undo Payments function (defaulted to 15 seconds, extendable to 60 seconds) enabling you to reverse an unconfirmed payment immediately.
- Instant Notifications and In-App Support: Every transaction generates an immediate notification allowing you to spot unauthorised activity straight away. If you suspect fraud, you can contact Monzo's experts directly 24/7 through the app or ring 159 from any UK phone line.
- Fraud Detection Systems specialising in Purchase Scams: Monzo's expert teams have created advanced scam detection technology to identify transactions carrying a high risk of being potential purchase scams. If a payment you initiate gets flagged, you'll have the opportunity to speak with a real person to review the transaction and receive assistance.
