Financial sextortion, particularly targeting teenaged boys, has seen a significant increase, with reports exceeding 600 a week post-2022, as highlighted by a joint report from Thorn and NCMEC. Perpetrators often use 'catfishing' to coerce boys into sharing explicit images, then demand money in exchange for not sharing them. Instagram emerges as the primary platform for such extortion, with most victims being boys aged 14-17. The rise of financial sextortion is attributed to organized criminals from Nigeria and Côte d'Ivoire posing as teenagers to exploit victims. The median payment demanded is $390, with $100 being the median paid, showcasing the prevalence and impact of these schemes on teenage boys.