A recent UK government proposal to cap the resale price of tickets is drawing sharp criticism from fraud experts and fintech leaders. Far from protecting fans, the policy could push them into unregulated markets, triggering a wave of scams worth up to £100 million during the summer alone.
Ticket fraud already costs UK consumers an estimated £70 million a year. However, new data from Bradshaw Advisory, backed by investigations from financial crime prevention group We Fight Fraud (WFF), suggests that figure could quadruple if caps are introduced. According to their analysis, annual losses could hit £280 million as fans shift from regulated resale platforms to social media and messaging apps where enforcement is virtually nonexistent.
WFF, supported in its submission by fintech giant Revolut, is urging the government to reconsider its approach. While better regulation of the resale market is broadly welcomed, both organisations argue that price caps would have the opposite effect, driving ticketing underground and increasing fraud exposure for both consumers and financial institutions.
Risk test
To test the risks, WFF conducted a covert operation at a Premier League match between Liverpool and Southampton in March. Investigators purchased tickets through social media, and the results revealed a fraud ecosystem already thriving in the grey market.
The majority of tickets were either fake, never delivered, or tied to hijacked memberships. Buyers were asked to pay fictitious “name change” fees and route money through mule accounts, often via encrypted channels.
International data shows a similar situation. In Ireland, where resale caps are already in place, 13.6% of fans have reported being scammed, more than triple the UK’s current rate of 3.8%. A comparable surge in fraud has been observed in Victoria, Australia, following the introduction of similar restrictions.
Since October 2024, UK banks have been required to reimburse victims of Authorised Push Payment (APP) fraud. As a result, the financial consequences of ticket scams are no longer limited to individuals; banks, fintechs, and the wider economy have become victims as well. Revolut reports that ticket-related scams rose by 40% in the lead-up to Taylor Swift’s London concerts in August 2024, a spike that coincided with a surge in demand and limited legitimate supply.
Critics of the proposed cap argue that the government is underestimating the complexity of the resale market and the resilience of criminal networks operating within it. With legitimate resale options potentially restricted by law, experts warn that fans will be left with few alternatives beyond high-risk, unregulated channels, where scammers already have the upper hand.