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Female Chinese students ‘asked to hand over nude photos to secure loans’
Neil Connor, Beijing
15 June 2016 • 6:32pm
Female students in China are providing nude pictures as collateral for loans, according to reports.
According to state media, some university students have sent photographs of themselves naked, holding identification cards, to potential lenders, in order to obtain higher loan amounts.
The loan sharks threaten to send the pictures to their parents or publish them online if they fail to repay the loan on time, reports said.
The students are often required to pay extremely high interest rates as part of the arrangement.
One student borrowed 120,000 yuan (£12,870), but she found her debt had increased to double that within four months, the Beijing Youth Daily reported.
She then had to borrow money from her parents to pay back half of the loan after she was threatened that the pictures would be posted online.
Another student borrowed 500 yuan (£54) at an interest rate of 30 per cent per week, the Southern Metropolis Daily said. The student found the loan shark on peer-to-peer lending platform Jiedaibao.
It is unclear how widespread the practice is on the Chinese internet, but Jiedaibao told the Shanghai based Sixth Tone outlet it had launched an investigation.
Loans are difficult for students to obtain in China and the wider industry is largely under-regulated.
Comments on China’s Internet on Wednesday were largely divided, with many criticising the loan sharks, while others said the students were to blame for chasing money.
“It’s stupid to send nude photos,” said one post on Sina Weibo, China’s version of Twitter.
“The girl is so naive and stupid. I wonder how she is able to enter the university.”
Another post said: “This is notorious now, but it is still operating. Doesn’t it break the law?”
http://www.telegraph.co.uk/news/2016/06/15/female-chinese-students-asked-to-hand-over-nude-photos-to-secure/
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