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Nude selfies used as collateral for Chinese loans
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 gigabyte file posted on the internet exposed the personal details of more than young women who were asked to provide the explicit material to secure money through online lending platform Jiedaibao. Launched by JD Capital in , Jiedaibao allows lenders to operate anonymously but requires borrowers to reveal their real names when making transactions. Loan amounts and interest rates can be customised to meet the needs of users -- often people who have a hard time accessing loans through more traditional financial institutions, like banks. Interest on the "nude loans" reached an astonishing 30 percent a week, according to the Global Times newspaper. Lenders told female borrowers that if they failed to repay the loans, their nude photos would be sent to their families and friends, whose information was also required for some transactions, the article said. Material in the file put on the web last Wednesday showed some borrowers also promised to repay loans with sexual favours, according to screen captures posted on social media websites.
A Girl’s Nude Photo, and Altered Lives
Then she sent the full-length frontal photo to Isaiah, her new boyfriend. Both were in eighth grade. They broke up soon after. In less than 24 hours, the effect was as if Margarite, 14, had sauntered naked down the hallways of the four middle schools in this racially and economically diverse suburb of the state capital, Olympia.
I hope to god you discovered this through conversations with friends or family, and not through somebody begging you for naughty pictures. Nobody told me not to do it. I had just turned 13 when a guy friend started sending me messages with increasingly sexual tones. I was curious. I would message him at night, under my quilt, ready to shove my phone under my pillow should my parents come into my room.