Digital bank Monzo was the first to spot customers’ cards were being compromised. It identified in April that the common factor behind a spike in frauds was that every customer who lost money had also had interaction with Ticketmaster.
On 12 April it warned Ticketmaster of the issue, but “couldn’t get any traction” out of the company, according to Monzo’s head of financial crime, Natasha Vernier.
In the meantime, Monzo contacted all customers who had ever dealt with Ticketmaster – about 5,000 – to replace their cards.
It also told banks that are part of the UK Finance group in April that it was aware of what appeared to be a significant data breach at Ticketmaster.
Monzo’s experience suggests that anyone who has bought a ticket through Ticketmaster should check their accounts for unusual transactions involving Xendpay, Uber and Netflix. None of these companies were involved in the fraud itself, but were the means by which the fraudsters were able to steal money from people’s accounts.
So now we know what this was all about: Monzo Fraud sending me a new card... out of the blue