February 23, 2024
NAB scam warning, 5,000 payment skipped: 'biggest threat'


NAB is warning music fans to be wary of scams ahead of highly anticipated and sold-out international concerts by the likes of Taylor Swift and SZA.

The major bank revealed its customers have skipped $285,000 in payments linked to potential ticket scams in the past three months.

Scammers often respond to people posting on social media looking for tickets, or list non-existent tickets online. There have also been reports of criminals hacking social media accounts and selling fake tickets to friends of the account owner.

NAB is warning customers about criminals who are hacking social media accounts and selling fake tickets. (Source: Getty)

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NAB security awareness manager Laura Hartley said scammers were playing on fans’ fear of losing out.

“Sold-out concert tickets or posts in fan groups on social media marketplaces are the biggest indicators of a scam,” Hartley said. “Buy tickets only from authorized resellers.

“We are hearing about criminals who are hacking social media profiles and selling fake concert tickets to friends of the account owner who have no idea someone else is controlling their account.

“Even if it’s a friend you know legitimately listing the ticket on social media, pick up the phone and talk to them directly before sending the money.”

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yahoo finance previously spoke to a Melbourne woman who was defrauded of $900 after trying to buy Taylor Swift tickets through a local Facebook group. The scammer took her payment and blocked her on social media before asking for more money – leaving her out of pocket and ticketless.

Scamwatch said it has already received 273 reports of people being scammed into buying Taylor Swift eras tour Tickets via social media, the Australian team has so far lost $135,000 in this scam.

NAB has introduced real-time payment alerts to curb scams, but said many customers eventually completed their payments after receiving the alerts.

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The ticket scam is a type of horse-trading scam that caused the Australian team to lose an estimated $43 million in 2023.

Hartley encouraged anyone who thinks they have been scammed to contact their bank immediately.

“Our team receives an average of approximately 80,000 calls per month about scams and fraud – up from an average of 63,800 calls per month at this time last year,” he said.

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Source: au.finance.yahoo.com



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