Fear of Missing Out (FOMO) is a psychological condition where individuals fear missing out on popular moments or events. This fear can become a disaster for those who are not careful.
Recently, concert ticket scams have targeted Gen Z, driven by FOMO. Their desire to stay updated on social media often makes them fall for fake ticket sellers offering low prices.
Many ticket scalpers at event venues sell tickets at or above regular prices due to the high demand from Gen Z to attend concerts.
Although the number of victims has risen in the past three years, this recurring scam hasn’t received serious attention because it is seen as a minor issue. These scams exploit people’s growing desire for entertainment, particularly for foreign artists’ concerts.
Scammers take advantage of this enthusiasm by manipulating victims’ emotions, knowing how much they want to attend these events. Recent investigations reveal that these scams are tied to the practice of account sales.
Iradat Wirid, Deputy Executive Secretary of the Center for Digital Society (CFDS), explained that Indonesia’s insufficient financial literacy fuels account brokering.
“Our financial literacy score, according to the OJK, is still around 60%, and OECD reports that we’re below the global average,” he said on Wednesday, Feb. 26, 2025.
Low digital security literacy compounds this issue. People’s understanding of the importance of using their bank accounts only for legal and personal purposes still needs improvement.
Moreover, children should be taught about the dangers of money laundering through account brokering. Those who can already open bank accounts are among the targets of these crimes.
“Just because the transaction fee is tempting, don’t let your account become a money-laundering tool, which could lead to criminal charges,” he stressed.
Additionally, with the rise of digital banks and payment systems that are easily set up online with just an ID photo and digital registration, it’s now easier than ever to open a digital bank account.
Wirid emphasized that the government should create more concrete regulations on electronic transactions as outlined in the Electronic Information and Transactions Law.
One approach could be tightening rules on SIM card and mobile number registration, which criminals exploit. Scammers use other people’s ID numbers to register new phone numbers for use on social media and e-commerce platforms.
If regulations were tightened and problematic accounts became easier to identify, this type of crime would decrease.
“The government’s efforts seem half-hearted despite the huge potential of the music industry, especially for concerts,” he said.
Wirid advised the public to verify the seller’s identity to avoid falling for such scams. If possible, it’s better to meet the seller in person.
Background checks, such as verifying usernames, phone numbers, and account numbers via checking apps, are also important. Buyers should be extremely cautious if a seller asks for a down payment.
“Sellers will play on your emotions, making it seem like there’s a lot of interest, pushing you to make a deposit first. If we’re not careful, we might fall for it,” he explained.
Author: Jelita Agustine
Editor: Gusti Grehenson
Post-editor: Lintang
Image: Freepik