It is stated that a Chinese money lending platform, JD Capitals Jiedaibao has come up with a scandalous way of money lending and the firm is demanding nude photos of women as collateral for loans. This method of loans is very popular among Chinese college students and they just have to pose naked with their ID and use these photos as collateral in their practice.


If the student fails to repay the loan, then the lending company will threaten to show the nude photos to her family and friends and there are even cases, the defaulters have offered sex services. What a great way of collecting loans by following wrong ethics.


It is also said that the company offers higher amount of loans to who agree to send nude photos than the normal cases and however the loan interest rate can be as high as 30% a week.


When someone has asked the company about this they have said the nude collateral practices are part of a private trade deal between users and it cannot interfere in that. They say the users participating in such practices have to shoulder the risks themselves.


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