Exclusive: Australians are being warned of a spike in ticketing scams as major international acts head to Australia, but in a win for consumers, a new avenue is available for those who fall victim.
Scammers are flooding digital markets with fake tickets, with the average loss for a fake ticket scam at $1700, according to NAB chief investigator Chris Sheehan.
“What that would suggest is that people are buying tickets for themselves and a couple of their friends, or themselves and their family, which just adds salt to the wound when you think there’s a few people missing out for every one of these events,” he said.
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“It’s a heartbreak for them but it’s also a real hit to their hip pocket.”
Major banks will now intercept suspicious payments, scaling out red flags like marketplace sales, unfamiliar accounts, heavily discounted prices and payment by crypto or money transfer.
NAB says those intercepts are already working, with $160,000 in ticket purchases abandoned before completion in the past three months.
For the many people who are still falling victim to scams, about $19 million has been lost so far in 2024, the government is introducing a new way for Australians to claw their money back.
A single pathway is being introduced inside the Financial Complaints Authority for victims to seek compensation.
“There’ll be tough new obligations on businesses. Fines and penalties associated with that… and avenues of redress through the financial complaints authority,” Financial Services Minister Stephen Jones said.
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