What Epstein?
Chinese Loan Sharks already knew how to use Sex Tapes to blackmail borrowers approximately 4,000 millenia before the Sumerians even know how to put on a pant…
Web-based lenders are asking the young women to send naked photos of themselves as collateral, warning they’ll be made public if payments are not made on time
Nude Pics for a āNaked Loanā: Controversial Online Loaning in China A recent leak has exposed a raunchy Chinese e-commerce scandal in which women get personal online loans through nude pictures and videos. According to some netizens, the āNaked Loanā phenomenon is a sign of the consumerism of Chinaās younger generation.
A recent leak has exposed a raunchy Chinese e-commerce scandal in which women get personal online loans through nude pictures and videos. According to some netizens, the āNaked Loanā phenomenon is a sign of the consumerism of Chinaās younger generation.
The so-called āNaked Loanā is a practice of online money borrowing and lending where female loaners are allowed to use their ābodyā instead of financial records as collateral.
The recent leak in China of at least 10 gigabytes of naked pictures and videos for ānaked loansā on Jiedaibao (åč“·å®), a Chinese online peer-to-peer lending platform, has made yet another e-commerce scandal after the recent controversies over Alipay.
āSometimes loaners propose a āflesh paybackā for which borrowers will repay their loans with sexual activities.ā
The ānakedā in ānaked loanā (luĒdĆ i č£øč“·), is a pun: on the one hand, it means that no proof of capital or material assets is required when taking the loan; on the other hand, the naked female body is taken instead as a guarantee when borrowing money.
To get a naked loan, borrowers take naked selfies in which their ID cards have to be held in front of them. Both the front and back side of the ID card should be clearly readable. The borrowers also have to make a video (in which they also have to be naked), stating their name, the loanerās name, the amount of the loan and interest, the date of payback, and the promise that in case they are not able to pay back the loan, they will have to āface the consequences.ā
In the case of a delayed payback, loaners will threaten to release the borrowersā naked pictures on the internet, or to expose their conduct to their parents and family. Sometimes loaners also propose a āflesh paybackā (čåæ), for which borrowers will repay their loan with sexual activities.
What draws the publicās attention to the ānaked loanā phenomenon is the recent leak of 10 gigabytes of documents from Jiedaibao (åč“·å®), a Chinese online borrowing and lending platform. The documents concern private information of users, including naked pictures and videos of 161 borrowers. The borrowers are female netizens between the age of 17-23, many of them attending university or college.
Soon after the leak of these documents, Jiedaibao announced on its official Weibo account that they would take legal action to combat ānaked loanā practices and that they would set up a one-million āanti-naked fundā to resolve the situation.
āThe āNaked Loanā phenomenon reveals the problem of modern youth; that their expanding desire for material wealth is increasingly incompatible with their real life situations.ā The issue also attracted the attention of official media. State media outlets such as Peopleās Daily (äŗŗę°ē½) have called for better supervision over Chinaās online e-commerce platforms.
The issue also attracted the attention of official media. State media outlets such as Peopleās Daily (äŗŗę°ē½) have called for better supervision over Chinaās online e-commerce platforms.
On Sina Weibo, netizens are also concerned about young womenās motives to take a naked loan. Many believe that university students are influenced by āconsumerismā, that triggers young people to make extra money to purchase expensive cosmetics and accessories.
As one popular Weibo user writes: āThe āNaked Loanā [phenomenon] reveals the problem of modern youth; that their expanding desire for material wealth is increasingly incompatible with their real life situations (..) the life of ālower peopleā is ugly and undesirable; a decent and well-off life has become the norm.ā
Another netizen is more apathetic about Chinaās young āspendersā: āExcessive consumption has become quite common among university students, yet society is neither understanding nor responding to such needs. Under an unsound credit system, young people fall victim to these ānaked loansā.ā
Yan FengJiao confesses she too is a victim of loan shark… #MeToo!