Hundreds of nude selfies of women taken 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 10-gigabyte file posted on the internet exposed the personal details of more than 160 young women who were asked to provide the explicit material to secure money through online lending platform Jiedaibao.

Launched by JD Capital in 2015, 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% a week, according to the Global Times newspaper.

Hundreds of nude selfies of women taken as collateral for Chinese loans | world-news | Hindustan Times