Ecommpay urges merchants to bolster fraud prevention
Ecommpay is calling on merchants to update their fraud prevention strategies as reports of ticket fraud and related financial losses increased significantly in 2024.
According to Action Fraud, reported losses from ticket fraud in the United Kingdom reached GBP £9.8 million in 2024, a 47% increase compared to the GBP £6.7 million lost in 2023. The number of ticket fraud incidents reported also rose by 11% year-on-year, with 9,826 cases in 2024 compared to 8,719 in 2023.
In light of these figures, Ecommpay, a global payments platform, is collaborating with merchants to offer guidance and technological support aimed at reducing fraud risks, particularly in the lead-up to major music events and festivals scheduled for the summer.
Action Fraud has responded to the increase in incidents by launching a public awareness campaign. The campaign encourages eventgoers to remain vigilant against criminals attempting to sell fake or non-existent tickets through unofficial channels, including social media, phishing emails, and fraudulent websites. Scammers are known to use inflated pricing, bogus QR codes, and compromised accounts to deceive buyers.
Marija Solovjova, Head of Fraud AML Transactions & Disputes Department at Ecommpay, highlighted the persistent and evolving nature of ticket fraud and its impact on merchants and consumers.
"Merchants face many challenges in detecting fraud, especially as fraudsters continually refine their methods, making them harder to detect as they employ advanced technologies and tactics. Without a robust anti-fraud strategy in place, merchants are sitting ducks and not able to protect themselves or customers from rising scams such as ticket fraud. We suggest buying tickets only from official box offices, promoters, agents, or trusted ticket sites and avoid third-party sellers on social media or secondary platforms."
Solovjova further detailed the strategies being used at Ecommpay to assist merchants in tackling the problem. "Ecommpay helps merchants to fight modern day fraud with a new approach and mindset. Our market-leading Graph Analysis tool has unveiled nearly 13,000 fraudulent chains involving almost 51,000 users across 207 unique merchants. 29% were confirmed scammers, while others were part of unsuccessful or unreported fraudulent attacks."
She emphasised the significance of adopting intelligent and adaptive solutions to combat the constantly shifting tactics used by fraudsters. "Fraudsters pose a multifaceted and ever-changing threat to e-commerce merchants which is why advanced machine-learning tools are so crucial. Implementing intelligent, adaptive and people-centric anti-fraud strategies gives businesses an advantage in the battle against online fraud. A multi-layered approach to fraud prevention requires multiple systems working together to provide valuable information and insights; a good model can only be built with a good understanding of how and when fraud happens."
Ecommpay's Risk Control System (RCS) incorporates Graph Analysis technology to identify and disrupt networks of connected fraudulent operations. The RCS integrates artificial intelligence, automated monitoring, and manual review, claiming a 97% success rate in fraud detection and prevention. According to the company, these measures aim to stop multiple related fraud attempts without negatively affecting client interactions.
Action Fraud continues to urge consumers to purchase tickets exclusively from official sellers and to be wary of offers that seem overly attractive or come from unidentified or social media sources. The collaboration between fraud analysts, merchants, and payment platforms like Ecommpay is intended to bolster the collective response to ticket fraud as financial losses and incident numbers continue to rise.
