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Yup. The inspector/revenue officer will issue a (civil) penalty fare.
BTP should only get involved if you refuse to provide personal details or provide false personal details for it because that is a criminal offence.(7)Regulations may provide that where information is required to be furnished pursuant to the regulations—
(a)a refusal to furnish any such information, or
(b)the furnishing of information which is false in a material particular,
shall, in prescribed circumstances, be an offence punishable on summary conviction by a fine not exceeding level 2 on the standard scale.
(8)Apart from subsection (7) above, nothing in this section creates, or authorises the creation of, any offence.
Chung
Refusing to do so can result in the British Transport Police involvement as the misogynist will tell you.