Chinese online loan sharks are targeting university students with demands of nude photographs as collateral for credit and threatening them with exposure if they don’t pay back the cash.
BEIJING – Hundreds of photos and videos of naked women used as collateral for loans on a Chinese online lending service have leaked onto the web, highlighting regulatory problems in the fast-growing peer-to-peer marketplace.
A 10-gigabyte file posted on the internet exposed the personal details of more than 160 young women who were asked to provide the explicit material to secure money through online lending platform Jiedaibao.
Launched by JD Capital in 2015, Jiedaibao …read more
Source: Chiangrai Times