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Female university students in China are asked to send nude photos of themselves, holding their ID cards, to online lenders, to borrow thousands of yuan.
The lenders threaten to contact their parents and make their photos public if they fail to pay back the loans, Southern Metropolis Daily reported (link in Chinese) this week.
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A year after the famed but struggling men's magazine stopped featuring photographs of naked women, it has apparently had a change of heart.
One student who was identified as Li Li, told the newspaper that she first borrowed just 500 yuan ($76)—at a weekly interest rate of 30%—from a lender on Jiedaibao, an online peer-to-peer lending platform owned by Beijing-based private equity fund JD Capital.