From Santa meet-and-greets to Halloween events, haunted houses and themed outdoor cinema screenings, popular events can sell out quickly. This prompts some people to buy from wherever they can find availability, even if a listing raises red flags.

Monzo warns the financial damage from ticket scams can extend far beyond the face value of a ticket. So if you're thinking about chancing it 'just because' the ticket is cheap, think again.

Research carried out by the bank earlier this year found that, once people factor in wider event costs, the average loss climbs to £1,295 per person. In other words, if the Halloween ticket you’ve bought turns out to be fake, you could be left hundreds - or more than a thousand pounds - out of pocket, and you may not always be able to recover the money.

For Halloween, these same surrounding costs quickly stack up. Monzo found that among people who were victims of ticket scams:

• 23% lost money on childcare, pet care, or time booked off work
• 24% lost money spent on clothes bought specifically for the event such as costumes and outfits
• 28% lost money on food and restaurant bookings
• 32% lost money on travel, transport, hotels, or accommodation
• 39% spent even more money trying to salvage their plans with alternative activities

'Avoid' doing this, Monzo says

It’s not only Monzo customers who could be affected. This can happen to anyone - no matter how old you are, what bank you're with and no matter what type of event you're trying to buy tickets for. That’s why it’s important for everyone to stay alert when making purchases, particularly during busy periods.

Gareth Murray, Senior Director of Financial Crime and Fraud at Monzo told the Express: “Halloween marks the start of the party season, where people are making plans and buying tickets to popular events. But this excitement, especially when events sell out, can create opportunities for scammers to take advantage.

“To stay safe, always buy through official channels, avoid bank transfers to sellers on social media, and remember that if a price looks too good to be true, it usually is. At Monzo, we proactively protect customers from fraud and scams, with real-time scam warnings, 24/7 support, and industry-first security features like Call Status and Added Security.”

How does Monzo protect customers from purchase scams?

Monzo combines real-time security features with smart app controls to stop ticket scams before money ever leaves an account. This means customers can take advantage of the following to stay as safe as possible: