China’s ‘naked loans’ force female students to go bare for cash
Shady internet lenders in China are reportedly coercing female college students to provide nude pictures of themselves as collateral
Under the arrangement reported by state media this week, some college students have agreed to send photos of themselves naked, holding their identification cards, to potential lenders. In exchange, they became eligible for higher loan amounts – two to five times the normal sum, the state-run Beijing Youth Daily reported.
Lenders tell the students they will publish the photos online if the loans are not repaid on time, often at usurious interest rates.
Read more: The Guardian