Revolut sees rise in fraud relating to tickets after online reports of Electric Picnic scam

Gardaí confirmed this week that they are investigating alleged incidents of online fraud involving the resale of event tickets

The investigation follows reports on social media of people being scammed when trying to buy Electric Picnic tickets from a third party

The number of people reporting to Revolut that they have been subject to a ticket scam has risen in recent days as gardaí continue to investigate alleged incidents of online fraud.

It is understood that the digital bank has recorded an uptick in fraud reports relating to ticket scams in recent days, as many look to secure last-minute tickets for this year's Electric Picnic festival.

Gardaí have confirmed that they are investigating alleged incidents of online fraud involving the resale of event tickets that are believed to have occurred in recent weeks.

The investigation follows reports on social media of people being scammed when trying to buy Electric Picnic tickets from a third party, with the festival set to take place in Co Laois from August 29 to 31.

Garda investigation

Following a query by the Irish Examiner, gardaí said the force is "investigating alleged incidents of online fraud (alleged resale of event tickets) that are believed that have occurred in recent weeks".

Gardaí are urging anyone who believes they may have been a victim of online fraud to report it in person or by phone at their local Garda station, or by calling the freephone Garda Confidential Line on 1800 666 111.

"It is important that people exert a great degree of caution if attempting to purchase tickets for a sold-out event through any third-party known or otherwise," gardaí said.

"Do not trust that the tickets you believe you are purchasing are real. It is likely that they will not materialise and in fact, do not exist.

"Please do not send money through any app in advance.”

Speaking to the Irish Examiner,a spokesperson for Revolut said: "We takes fraud and the industry-wide risk of customers being coerced by organised criminals, incredibly seriously. Each potential fraud case concerning a Revolut customer is carefully investigated and assessed independently of other cases."

Revolut allows users to report transactions they have made as fraudulent after they have been sent, enabling customers to retrieve money that they now believe to involved in a scam. The feature has been praised in recent days for helping scam victims retrieve money lost in an attempt to secure Electric Picnic tickets.

In 2024 alone, Revolut said it prevented over €700m in potential fraud against our customers by implementing real-time AI fraud detection systems, transaction limits, in-app warnings, delayed payments for suspicious transactions, biometric authentication requirements, and providing educational resources to help people remain informed about all the potential risks.