YOUR FRIENDS MAY be packing up their tents, but if you’re desperate for a ticket to Electric Picnic, the Irish Banking Federation has warned you to take care.

The IBF is warning that a small number of cases has come to their attention where people have paid for tickets to the Stradbally music festival, only to end up empty handed.

The victim purchases the ticket online, paying for it by means of an electronic account to account transfer. The ticket is then supposed to be posted out and, when not received, the alleged seller is not contactable.

The IBF says that there is nothing new about this type of fraud, but it can increase with any event where tickets are in high demand or sold out – and especially when tickets are selling for a high price.

In the past, they say there there have been cases involving sporting events or simply involving the online purchase of high-value items such as smart phones.

“Consumers need to exercise extreme vigilance if buying tickets or other items online when not purchasing from a recognised and reputable seller,” says an IBF statement.

“Consumers should take steps to independently verify that the seller is the legitimate holder of a genuine ticket and that he/she intends to exchange the ticket for the fee paid. If in doubt, consumers should not proceed with the purchase.”

Read: UFC Dublin tickets sell out almost immediately after going on general sale

Read: Why are these One Direction tickets in the fridge?