It comes as the Met Police released worrying figures showing the number of sex crimes involving dating apps Tinder and Grindr was up 2,000 per cent this year.
The National Crime Agency and the National Police Chiefs' Council have launched a new campaign to advise those who have been, or are likely to be, targeted.
The police will take your case seriously, will deal with it in confidence and will not judge you for being in this situation.
Don't communicate further with the criminals: Take screen shots of all your communication.
If it has, and if you are able, then make a note of where it was collected from.
If it hasn't, then you can cancel the payment - and the sooner you do that the better.
Sextortion is a form of blackmail where criminals use fake identities to befriend victims online - using websites such as Facebook, Skype or Linkedin - before persuading them to perform sexual acts in front of their webcam.
Never open email attachments or click on links from strangers and watch out for email scams, such as a suspicious message from your bank.
It includes a film aimed at the most vulnerable victims, helping them to recognise a potential criminal approach and providing online advice, including the importance of reporting the crime to their local police.
Victims are often worried about reporting the offences to police because they are embarrassed, but they have offered the following advice: Dont panic: Contact your local police and internet service provider immediately.
Most appear to single out victims based on their "ability to pay" and because "they have something to lose" and ransom demands range from a few hundred to a few thousand pounds.
The term "sextortion" was a term coined by the National Police Chiefs' Council, which has been investigating the growing crime.