Child Financial Exploitation

Perpetrators can use online platforms such as online gaming networks or social media to exploit the vulnerability and needs of a child. This can include:

Online exploitation: Online gaming and social media can make children increasingly vulnerable to online financial exploitation. This can include cyberbullying, peer-to-peer financial scams, romance scams or grooming by perpetrators who wish to exploit children for financial gain or Financially Motivated Sexuall Extortion (FMSE). Find out more

Identity theft: Perpetrators may steal a child's identity to open bank accounts or apply for loans, or to make purchases and returns, often without the knowledge or consent of a child. This is becuase children typically have clean credit histories making a child easy to target

Fraudulent schemes: Children may be targeted by scams, such as phishing emails, or online advertisements promising rewards or prizes. These schemes trick children into providing personal, financial information or making unauthorised purchases. They can seem very genuine at first glance

Financial abuse by caregivers: In some cases, parents or careres may exploit a child's financial resources for their own benefit. This could involve misusing funds intended for a child's education, or pocketing money from child support or government benefits intended for the child, or coercing the child into providing financial support from Child Trust Funds, for example

Child labour exploitation: Children may be forced or coerced into working in exploitative conditions. This can include situations where children are made to work long hours for little or no pay, they may be denied access to education or healthcare, or subjected to physical or emotional abuse. Find out more

A child may then find themselves in debt bondage for drugs, sex, weapons etc. Currencys can include Bitcoin, cryptocurrency, NFT's, gaming currency and high value material goods such as jewellry or clothing, for example. Children as young as 11 now have access to these ever changing and varying types of currency.

How to recognise CFE and what to look out for.

• Job adverts – Often perpetrators will share a job advert on social media that may include phrases like ‘easy money’ or ‘no experience necessary’. Some of these adverts may also be accompanied by images of lots of cash. If the advert sounds too good to be true, then it usually is. Often these perpetrators can be part of an OCG
• Lots of spelling errors - A genuine job advert will rarely have spelling errors, this may be a sign the advert is not legitimate
• Cash points: Perpetrators can approach victims at cashpoints as well as online
• Messages through social media – Private messages asking if someone wants to make quick cash or easy money. If someone suspects an account on social media is acting suspiciously, they can report it and block that account
• Asking to share bank details – information about your PIN should not be shared

Read more at Fearless, from Crmestoppers here

It is important for children to be educated in spotting the signs but equally important to ensure the correct safeguarding response is considered when a child is being abused.