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Unlike their US counterparts, China’s college students find it hard to get loans for tuition or starting businesses, thanks to limited government support.Shady online P2P lenders have aggressively expanded on college campuses.Some loan sharks sell nude photos of female student borrowers for 30 yuan in those online chat groups, even after they have paid back their loans, state newspaper Legal Daily reported (link in Chinese).
Female university students in China are asked to send nude photos of themselves, holding their ID cards, to online lenders, to borrow thousands of yuan.
The horrific practice is being done through Jiedaibao, a peer-to-peer lending platform where people can broker their own deals - but it is not known who leaked the pictures.
In June it emerged that the young girls are asked to send a naked selfie with their ID card in order to borrow thousands of yuan with high interest rates.
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NUDE photos of hundreds of young Chinese women who were forced to hand over naked selfies for cash loans have been leaked online.
After paying old loans by taking out new ones, Li said now she owes 55,000 yuan, and the lender is threatening to post her naked photos online.