More than 500 Australian bank accounts linked to the sexual extortion of teenagers have been shut down by federal police. 

Global criminal syndicates were coercing young Australians into sending sexual images and coercing them to make payments.

Around 100 reports have been made every month this year, which is a 100-fold increase on last year.

Police say the criminals were purporting to be teenagers when connecting with their victims, before asking for naked images and videos.

The predators are then able to demand the victims pay to keep the material from being publicly shared with family and friends.

AFP Commander Hilda Sirec said more than 90 per cent of victims were male and predominantly 15-17 years of age but police have seen victims as young as 10 years old.

It’s feared the actual number of victims in Australia is much higher, with conservative estimates suggesting less than a quarter of minors report to police.

“The financial action that we have undertaken … so far is just the beginning; we will target and disrupt these offenders operating offshore, wherever they hide,” Commander Sirec said.

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