Nude pics as IOU: a new, risky online loan among Chinese university students

[Sunlei]

Many Chinese university students were found to have used their nude pictures as IOUs on some online lending platforms, putting themselves at the risks of having everybody – including their parents – see them naked.

Such risky methods of IOU is found usable on several online lending platforms, but it is usually more often accepted within the QQ group chats connected to such platforms. Borrowers are also required to upload pictures of their ID cards and report their family information, including their address and cell phone numbers.

Once a clear photo of a naked borrower holding his or her ID card is uploaded to lenders, he or she can get up to 15,000 yuan ($2,277) credit with a maximum of 36 month installments, the Nandu Daily reported.
The credit varies based on the borrower’s education background. Usually an undergraduate student can receive 15,000 yuan in credit, while those studying at famous universities as well as doctorate students can receive even larger loans.

Snapshots of similar threatening collection messages have also gone viral, with a photo of a female borrower and a message reading how the lender would send the photo and her naked video footage to her family members if she could not pay back her 10,000 yuan borrowed on an annual interest rate of 24 percent within a week.

link to social media 'news' in china, comments are a peek into a different social culture.
http://en.people.cn/n3/2016/0614/c90000-9071896.html

[ret5hd]

1. OK, I got a deal for ya'll:

I'll supply a nude picture of myself holding valid ID and family info, and ya'll send me the small sum of, oh, let's say $1500.

The catch is I don't care what you do with the photo. And I'm pretty sure nobody else will bother to look at it more than once. But I got a cool $1500. Later suckas!

[Sunlei]

2. mericans don't need nude pic to secure a 24% interest,payday 'loan'.they'll just take the car/house

[dixiegrrrrl]

3. Hell, I will threaten to send them a nude pic if they DON'T give me money!

Believe me, they do not want to see that pic.....

[Blue_Tires]

4. I'll send a nude pic to everyone for free; forget about the money

I WANT people to see! Look at it! Yeah, you like that?