Online firm lends money against nude pics as collateral

Beijing: A Chinese money-lending platform followed a scandalous practice of demanding nude photos of women as collateral for loans, reports said.

A number of female college students were told to send their nude photos in exchange for usury loans on an internet lending platform.

JD Capital’s Jiedaibao is a platform for individuals to loan and lend which is especially popular between friends and acquaintances.

They often ask female students to pose naked with their ID and use these photos as collateral in their practice.

If a student defaults on the loan, the loaners will threaten to show the nude photos to her family and friends.

In exchange, the students who agree to send nude photos can have a higher loan amount, ranging from two to five times as much.

In a number of other cases, when a student cannot pay off their loan, the loan agents even asked for sex services, the report said.