More than 1,800 bank accounts linked to sextortion of Australian teenagers closed

More than 1,800 Australian bank, financial services and digital currency accounts linked to the sexual extortion (‘sextortion’) of Australian teenagers have been closed.

Sextortion is a form of online blackmail in which perpetrators trick or coerce someone into sending sexual images of themselves, before threatening to share the images if their demands are not met. These demands may be for money, gift cards, or more graphic content.

AFP researchers said “too many victims are being blackmailed” but noted that there was a significant drop in reports of sextortion in the first half of 2024 compared to last year.

“In the first six months of 2024, the ACCCE received 560 reports of sextortion, an average of 93 reports per month, compared to an average of 300 reports per month in calendar year 2023,” AFP said in a press release on Tuesday.

Since 2022, the AFP and AUSTRAC, in collaboration with the financial sector, have facilitated the closure of bank accounts in Australia linked to international criminal organisations involved in sextortion.

Helen Schneider, commander of AFP’s Human Exploitation Unit, said police believe a combination of factors contributed to the drop in reports.

“Greater public awareness, particularly among parents and young people themselves, combined with the AFP working with partners such as AUSTRAC, is likely to make it more difficult for criminals to exploit children online,” Schneider said.

“We have worked closely with AUSTRAC and financial institutions to make Australia a hostile environment for organised criminals seeking to profit from the sextortion of our young people.

“Our intelligence indicates how effective we have been, with organised criminals regularly complaining to each other online about how difficult it is to extort money from young people in Australia.”

Commander Schneider welcomed the drop in reports of sextortion, but said the AFP-led ACCCE remains committed to combating this type of crime.

“Although the number of reports has decreased, this is still an underreported crime. The sad reality is that we still receive almost 100 reports a month of children in Australia being targeted by criminals,” Schneider said.

“That is why the AFP will continue to turn Australia into a hostile environment for those who seek to exploit our children, during National Child Protection Week and every week.”

Anthony Helmond, AUSTRAC Acting National Manager for Law Enforcement and Industry, said it was disturbing that Australian children were being exploited in this way.

“Access to the Internet and the ease of online financial transactions have put vulnerable groups worldwide within reach of criminals,” Helmond said.

“As Australia’s financial intelligence agency, AUSTRAC is uniquely placed to identify suspicious financial transactions and share that critical data with our law enforcement partners.

“By pooling our knowledge and capabilities, we can identify and combat criminals who target young Australians through sextortion.

“AUSTRAC’s ability to track money flows and our partnership with industry has resulted in the closure of numerous accounts that supported offshore organised criminals seeking to sexually extort Australians. Government and industry are working closely together to keep the community safe by tackling this devious crime.”