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THE SIGHT OF THOUSANDS OF FESTIVAL-GOERS being fleeced by fraudsters this summer has prompted those trying to legitimise the secondary ticketing market to launch a bond scheme to bolster public confidence in the sector.
But, far from being a knee-jerk reaction to the headline-grabbing events of the summer, the Association of Secondary Ticketing Agents (ASTA) has in fact been working on the idea for nearly two years.
"When we launched ASTA in 2005, it was on the back of a summer when thousands had paid for tickets to what they thought were bonafide ticketing agencies, only to be left empty-handed," recalls ASTA chairman Graham Burns. "Fast forward three years and we've seen history repeat itself.
"A lot was written about those who purchased tickets by credit card being covered, but there are hundreds of thousands of people in this country who only have debit cards. We want something in place that can allow them to buy with confidence ."
Burns tells Music Week that he modelled ASTA on the Association of British Travel Agents (ABTA), which guarantees consumers refunds in the case of travel operators failing financially.
"ABTA is bonded and has about #240m on deposit to cover all eventualities," says Burns. "My idea was to provide ASTA with a similar scheme by trying to get together something that would cover any of our members going bust by ...