Ecommpay urges better fraud detection tools amid surge in ticket scams

According to recent data from Action Fraud, GBP 9.7 million was lost to ticket fraud in 2024. Ecommpay urges merchants to adopt modern anti-fraud tools as ticket fraud is rising.

Ecommpay recommends that merchants adopt modern anti-fraud solutions

Data reveals a rise in ticket fraud reporting and financial losses from 2023 to 2024. The combined reported financial loss for 2023 is over GBP 6.6 million, which increased by 47% in 2024. Ticket fraud reporting also revealed there were a total of 9,826 ticket fraud reports in 2024, an 11% increase from 8,719 reports in 2023.

Action Fraud launched its campaign with music events oncoming, spreading awareness regarding criminals who are trying to sell tickets online for top events and sold-out concerts. Ticket fraud involves scammers selling fake or non-existent tickets for concerts, sports events, or festivals, often through unofficial platforms, social media, or phishing emails. Fraudsters offer tickets at inflated prices or significant discounts, using fake websites, hacked accounts, or QR codes to trick buyers.

Ecommpay knows merchants may face challenges in detecting fraud as scammers continuously refine their methods, making them harder to detect as they employ better technologies and tactics. Without a modern fraud prevention strategy, merchants are at risk of not protecting themselves and their customers. The company suggests buying tickets only from official box offices, promoters, agents, or trusted sites, avoiding third-party sellers on social media or secondary platforms.

The Ecommpay Risk Control System (RCS) was improved with graph analysis, enabling the company to analyse fraud trends and stop several connected fraudulent operations. The solution has a 97% success rate in fraud detection and prevention due to a combination of AI tech, automated monitoring, and manual analasys, without having negative effects on customers interactions.