Lenders also propose sexual activities when borrowers fail to repay loans. A Chinese daredevil known for scaling skyscrapers without safety equipment to snap jaw-dropping selfies died last month after slipping off a story building in the central city of Changsha, according to multiple reports. Rooftoppers tout millions of followers on social media, dangling over stunning heights in a bid for views and likes. Police confirmed that Wu's death took place on Nov. A borrower is required to hold up a valid ID in the naked selfie. In many of the cases, QQ and Wechat, two popular messaging apps owned by Tencent, were common places to broker the "nude loans".
Nude selfies are loan collateral in China
Online loan sharks demand nude selfies from borrowers as collateral
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. Since the creepy practice is hitting the proverbial fan, some sites where naked photos have been used as collateral claim to be investigating. After being threatened by the lenders, she had to ask her family for money to avoid having her nude photos published online. There are conflicting reports as to whether the interest rate was 30 percent per week or per year, but trying to read a translated version of the original story is a bit of a confusing nightmare. Let friends in your social network know what you are reading about.
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Asia Times , reported that an operative in Shenzhen was busted and cops recovered videos on the cellphone of the mastermind. More from Sify: Asia Pacific news. AliPay, users were reported of saying that the Circles feature was discontinued on Sunday. Wu's girlfriend left a revealing post on Friday, the newspaper reported: China warns against livestreaming after 'rooftopper' falls to death https: Cancel Send.
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. Jiedaibao the online portal confirmed with a statement on Weibo that said nude selfie loans existed, but the interest rates were agreed between the lender and borrower on other channels. Students opting falling prey to such online markets, unfortunately have no other option to fund for their education and even medical expenses. Police confirmed that Wu's death took place on Nov. According to a few reports, students also have to create a nude video of themselves stating clearly their name, lenders name, amount of loan and interest, payback date, and also promise to face the consqeuences in the event they fail to repay their loans.