Think A Ticket Deal Looks Too Good? What to Know Before You Buy

The thrill of securing tickets to a sold-out concert or championship game can quickly turn to disappointment when you realize those tickets are fraudulent. A government report shows that fraudsters are becoming more sophisticated, creating convincing counterfeit tickets and deceptive websites to trick even the most careful buyers. On top of the disappointment, financial losses can be substantial. That’s why it’s important to stay alert, respond quickly, and safeguard your accounts from further harm.

Before You Buy: Avoid Phony Tickets

Your first line of defense is a healthy dose of skepticism and a clear strategy for purchasing tickets.

• Stick to Official Sources: The safest way to buy tickets is directly from the venue’s website or its designated primary ticket seller. While third-party sites may advertise lower prices, if a deal seems too good to be true, it probably is. Sometimes, unofficial resale sites make it seem like you are buying straight from the source, but instead you’ve purchased unverified tickets. The Government Accountability Office found these secondary market sites charge an average of 31% more than the primary seller. When in doubt, go to the artist, team, or venue’s website for a direct link.
• Be Wary of Search Engine Results: Just because a result appears at the top of your search, doesn’t make it official. Before clicking, look for the word “Sponsored” next to a search result, and carefully examine the website’s URL to ensure it’s the legitimate vendor.
• Verify Social Media Sellers: While social media is an easy way to connect people who may be going to the same event, it’s also a common breeding ground for scammers. Verify any seller before you send money.
• Peer-to-Peer Payments with Extreme Caution: Scammers use peer-to-peer payment apps like Venmo and Cash App because transactions are instant and nearly impossible to reverse. Reserve these apps for people you know and trust. If a seller insists on using them and refuses to use a secure platform with buyer protection, consider it a major red flag.
• Know the Telltale Signs of a Scam: Fraudsters create a false sense of urgency to rush you into making a bad decision. Be wary of sellers who pressure you with claims like, “Only 2 tickets left!” or offer prices far below market value. Other red flags include sellers offering only PDF tickets or screenshots, as these are easily duplicated and sold to multiple buyers.

Once You Realize You’ve Been Scammed: Act Quickly

Even with the best precautions, scams can still happen. Once you realize you have been scammed, it’s important to act swiftly.

1. Contact Your Bank Immediately: Notify your bank and credit card company about the fraudulent transaction. They can help you dispute the charge and monitor your account for further suspicious activity.
2. File an Official Report: It’s important to report the crime. File a report with the Federal Trade Commission and the FBI’s Internet Crime Complaint Center. These reports help law enforcement agencies track scammers and prevent others from falling victim.
3. Alert the Event Venue or Platform: Inform the official ticket platform or venue about the scam. They may be able to invalidate the fraudulent tickets and assist other fans who were targeted by the same seller. If you paid through an app, report the scam there as well, though reimbursement is not guaranteed.

The Aftermath of a Scam: Protect Your Finances

Scams go beyond losing money, the bigger threat is to your personal and financial information during the fake transaction which could expose you to identity theft and further fraud.

• Place a fraud alert on your credit report. Contact one of the three major credit bureaus (Equifax, Experian, or TransUnion). That bureau will alert the other two. A fraud alert makes it harder for someone to open new accounts in your name.
• Continue to communicate with your bank directly. After the initial alert, you can work with your bank to get new account numbers and debit/credit cards.
• Monitor your account statements. Continue to watch for any fraudulent charges that may appear.
• Update your credentials. Change all your online usernames and passwords, especially any financial, email, or social media accounts.

At WSFS, we are committed to your security and peace of mind. Visit your local banking office or contact us at 888.973.7226 to talk with an Associate directly.