Financial Sextortion of Teens: How Money Moves & How to Protect Your Kids | Expert Alison Jimenez (Ep 22)

Listen to this episode from Stolen Podcast on Spotify. In this eye-opening episode of Stolen, host Erin West sits down with anti-money laundering expert Alison Jimenez to discuss the rapidly growing crisis of financial sextortion targeting teenage boys. Learn how this transnational crime works, how scammers move money, and what parents and financial institutions can do to protect children. What You'll Learn: How financial sextortion schemes target teenage boys through social media platforms like Instagram and Snapchat The shocking statistics: 1 in 3 American teenage boys have been targeted, with complaints rising from 139 in 2021 to over 36,000 in 2024 How scammers use peer-to-peer payment apps (Venmo, Cash App, Zelle, Apple Pay) and gift cards to extract money from victims The cryptocurrency trail: how money moves from U.S. victims to criminal organizations in Nigeria and West Africa Red flags parents should watch for in their teen's payment apps Why "safety by design" matters for financial products targeting minors Practical steps financial institutions can take to add friction to these schemes Expert Insights: Alison Jimenez breaks down the financial infrastructure behind sextortion scams, explaining money mule operations, Bitcoin transfers, and the regulatory landscape. She shares actionable recommendations for parents, including privacy controls, parental notifications, and how to talk to your kids about this threat. Key Takeaways for Parents: Most payment apps automatically enroll teens in services like Zelle without opt-out options Scammers typically demand around $300 per victim using peer-to-peer payments or specific gift cards The crime moves quickly—from initial contact to blackmail can happen in minutes or hours Only 10-20% of scammers actually share images if victims don't pay, but the psychological harm is severe Whether you're a parent, work in financial services, or care about protecting children online, this episode provides crucial information about one of the fastest-growing crimes affecting American teens today.