Lloyds said the average amount lost by each victim was £332, although for some it was more than £1,000.

Its research found that fans aged 25 to 34 were most likely to be targeted, with many scams originating on social media.

Thousands of Taylor Swift fans have been scammed out of more than £1million by fraudsters claiming to offer tickets to the star’s UK concerts, bank chiefs estimate

Lloyds said the average amount lost by each victim scammed by a Taylor Swift ticket con was £332, although for some it was more than £1,000

Lloyds said it was looking more broadly at concert ticket fraud after fans of artists such as Coldplay, Beyonce and Harry Styles were among those targeted last summer.

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Purchase scams can happen when someone is tricked into sending money via bank transfer to buy goods or services that are fake, shoddy or do not exist.

Ticket scams often involve fake adverts, posts or listings on social media, offering tickets or access to sold-out events.

Victims are asked to pay up front for the tickets, but once this is done, the scammers disappear.

The buyer is left without the tickets and out of pocket.

There are often two waves of fraud – when tickets go on sale and around the time an event takes place – Lloyds said.

Liz Ziegler, the bank’s fraud prevention chief, said: ‘It’s easy to let our emotions get the better of us when we find out our favourite artist is going to be performing live, but it’s important not to let those feelings cloud our judgment.’

Lisa Webb, of consumer champions Which?, said: ‘Don’t be tempted to buy tickets from anyone other than authorised sellers, as your rights can be significantly reduced.

‘We recommend you pay using your credit card if the tickets cost more than £100.’