Cash Apps and a Countdown Clock: Following the Money in Financial Sextortion - with Alison Jimenez
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Cash Apps and a Countdown Clock: Following the Money in Financial Sextortion - with Alison Jimenez
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Last year in the United States, extortion was the most reported online fraud of any kind, ahead of investment scams and romance scams. A criminal obtains an intimate image, real or AI-generated, then demands payment to keep it private.
In this episode of Global FinCrime Fighters, our guest is Alison Jimenez, President of Dynamic Securities Analytics, whose research follows sextortion proceeds from the victim's payment app through mule networks to cash-out abroad. She came to the subject through work on cryptocurrency and CSAM and stayed with the question that follows every case: how does $75 from a teenager's payment app end up in a pocket in West Africa?
- A crime measured in minutes: from a fake profile to a reciprocated image to an escalating demand within hours, and why the model is mass targeting for small sums rather than months of grooming.
- Where the money becomes visible: night-time peer-to-peer payments to unknown adult counterparties, and the mule accounts that collect from several children before converting everything to crypto.
- Safety by design: why removing the ability to collect the money removes the motivation and what banks and cash apps offering teen accounts could retrofit now.
The episode is hosted by Piotr Bobolowicz.
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