Online Loans Made In China Using Nude Pictures As Collateral 118
HughPickens.com writes: There is more than one way to get a student loan in China as People's Daily Online reports that many Chinese university students use their nude pictures as IOUs on online lending platforms, putting themselves at the risks of having everybody -- including their parents -- see them naked. Borrowers are also required to upload pictures of their ID cards and report their family information, including their address and cellphone numbers. "The nude photos will be made public if the borrowers fail to repay their debts with interest," an insider was quoted as saying. The credit varies based on the borrower's education background. Usually an undergraduate student can receive 15,000 yuan ($2,277) in credit, while those studying at famous universities as well as doctorate students can receive even larger loans. Snapshots of threatening collection messages have also gone viral, with a photo of a female borrower and a message reading how the lender would send the photo and her naked video footage to her family members if she could not pay back her 10,000 yuan borrowed on an annual interest rate of 24 percent within a week. "Naked IOUs started long ago. Not only university students but many others also borrowed money with nude pictures," says insider surnamed Zhang. Zuo Shenggao from Jingshi Law Firm says that nude photos are actually invalid as collateral in terms of laws. "Nude photos are not property. It is in the category of reputation rights," says Shenggao. "If anyone threatens to publish the photos online, they will violate the clients' reputation. At the same time, they are also spreading pornographic material. Both are illegal and they will commit double offense,"
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Incorporate in Delaware? (Score:3)
Well, what I want to know is if I can buy some of this bad debt at a discount. You know. Because, uh, financial responsibility is something nudeful^wneedful in society. And, uh, because, maybe I can be like Jon Oliver, you know, and like, um, "forgive" the debts. Just because I'm a nice guy, y'see.
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I'm thinking this would not work in the US. Who doesn't have a naked photo of themselves floating around?
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Oxymoron.
Sunny Leone (Score:2)
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Trump 2016
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As someone who doesn't live in the US it is going to be a bit entertaining when Trump becomes president and all Trump supporters realized that they were the cucks all the time.
Some of them really thinks that they will be spared when Trump screws everyone over or that they somehow will benefit form it.
I am SO going to enjoy the look on their faces when they figure out what Trump is about.
I am looking less forward to the shitstorm that Trumps international politics will lead to, there is a reason the Russians
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I'd say they have too much of it, for being bothered by such things.
This is something that is simply outside of my frame of reference. Speaking for myself:
1) I cannot fathom why anyone would be interested in a picture of me, naked, and I do not think that I am particularly unattractive.
2) I do not remember a time where I would have been bothered by people seeing a naked picture of mine, especially one as demure as standing there and holding an ID card. There was a time, after breaking a few ribs, and gain
Re:Dignity? (Score:5, Interesting)
There are some big cultural differences about nudity between America and China. The Edison Chen Photo Scandal [wikipedia.org] destroyed the careers of several Chinese and Hong Kong actresses. In America it is the opposite: nude photos/videos generate publicity and boost careers. Paris Hilton became famous and made millions after her sex tape went public. Vanessa Hudgens was stuck in teenybopper roles until her nude selfies made her seem ready for mature roles.
Not hard to fathom (Score:2)
1) I cannot fathom why anyone would be interested in a picture of me, naked, and I do not think that I am particularly unattractive.
Really? You can't figure that out? Have you ever been interested in seeing someone else without clothes on? Then you should be able to comprehend that the reverse is also true at least for some portion of the population. It's true that not everyone is interested in seeing you specifically sans clothes but it's not hard to understand that some would. And no you don't have to be a supermodel to be attractive to others. You indicated you are married so obviously at least one person must find you attracti
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I think it would work when the photos are sent to your family members with a note saying: "This is what we will make public, with more to come, including video, if you do not pay."
The debt would suddenly become an extended family matter. Those interested parties may be more likely to pay the debt of their nude relative to avoid the negative consequences or shame to them personally by association.
When someone cannot pay debt, they usually know someone who can pay if they only make themselves appear desperate
Jumbo loans (Score:3)
You think that's undignified? For a Jumbo Loan they require a Goatse pose.
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What would prevent a borrower from photoshopping a different, much better body onto his/her head?
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Kids are stupid. Most adults too.
I imagine if you don't bow to the pressure from the nudes, say because they're not actually of you, they send the usual goon around to encourage you to pay. But sending a picture to your mom is much lower effort. If it convinces a few people to pay up it's worth it.
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In China everyone has no dignity by default.
A word of advice: Spewing out this kind of braindead prejudice only serves to tell the world that you are too stupid or too lazy to actually learn something new and engage in intelligent discussions. It may work in your local boozer, after a few pints, of course.
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I stand corrected, thereby disproving at least part of your statement.
This is Slashdot, so... (Score:5, Funny)
Pics or it didn't happen!
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Sounds like I've had significantly better luck with my car than you did with yours.
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I've got a '95 Escort Wagon with 43,000 miles on it. One of the best cars I've ever owned. Old enough to vote, and the last major expense I had to sink into it was adding freon to the AC and a new set of tires in 2014. Looks like new except my wife put a little crack in the back bumper during a snow storm last year backing out of our parking spot in the alley. And I'm the second owner. It has zero resale value, which is just how I like 'em. I could practically leave the keys in the damn thing and not
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I hear you Ratzo. My old '98 Volvo V70 wagon with ham radio plates is damn invisible to cops. Bought it for $1700 with a few minor dents and have put about 50K miles on it now. One of the most comfortable cars I've ever owned even at 200k+ miles, just getting broken in for a Volvo. Much nicer to drive than my old '89 Ranger with 430K miles on it.
Don't get me wrong, I love driving a new car but I let the company pay for the rental when I travel. But buy a new car? No, much better things to do with tha
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Re: This is Slashdot, so... (Score:2)
...just getting broken in for a Volvo.
I'm afraid that only applies to the old RWD Volvos (the 940 Turbo being the stoutest of them all); the newer mass-produced FWD and AWD stuff is junk.
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21 is old? God, I am ancient.
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My father (a lifelong ASE Certified Automechanic), when asked what he thought about Fords, once told someone, "I love them" and the person began to grin, then he followed with "They break often, they're easy to work on, and the parts are easy to get." Which is rather humorous to me anyway, since I've had rather good luck with my Fords (89 Mustang had 405K miles on it when we parted, 88 Mustang currently has about 275K, and the 99 Mustang has about 260K).
Low risk, easy money for me (Score:2)
I'm so ugly that everybody will avert their eyes as quickly at they catch a glimpse of my pictures. So who will be able to recognize me from those photos ?
No risk, easy money !
Pics or it didn't happen (Score:1)
n/t
What's to stop people sending fake pictures? (Score:5, Interesting)
Re: What's to stop people sending fake pictures? (Score:3)
They have 13th floors, but they often don't have room 4, room 14, room 24, etc. because the Chinese words for "four" and "death" sound similar.
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You can be room 14 on the 6th floor and instead of 614 the room will be 8614.
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And hotel room numbers often start with 8 as 8 is good luck.
Technically the reason 8 (ba, or baat in Cantonese) is considered auspicious is that it sounds like wealth (fa or faat) or 100 (baak in cantonese). For those that consider luck synonymous with wealth that is a reasonable approximation.
You can be room 14 on the 6th floor and instead of 614 the room will be 8614.
I have only heard of one hotel that actually does that, but I have seen rooms numbered so they skip "4"s.
Also, several skyscrapers in Hong Kong don't number a 4th, 13th, or any floors from 40-49th in a combination of Tetraphobia and Triskaidekaphobia as 4 (si or sei) sounds a
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I've seen the 8 prefix on hotels both in Hong Kong (Cantonese) and in Shanghai (Mandarin/Shanghainese)
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In fact they like it so much, they often have a 13A floor as well. But seriously folks, do American buildings really skip the 13th floor? I don't recall seeing that sort of superstition in the West for a long time (in China it is more common, but with different numbers and for obvious linguistic reasons rather than pure superstition with no basis in anything).
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I haven't seen many residential or office buildings lacking a 13th floor, but it is -very- common for hotels to skip it.
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My office has no floor numbered 13. It's not a new building, but it's not ancient either (practically nothing in Seattle is, although this building is probably older than most of them).
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But seriously folks, do American buildings really skip the 13th floor?
Some do... I've seen enough that it is a "thing" some places...
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I worked in one for a while that had a 13th floor, but there were no offices on it. It was full of heat exchangers and stuff like that.
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The one I work in does. At least, the elevator skips 13. I don't know if there's a mechanical floor immediately above 12, or if the "14th" floor (and all floors above) are just mislabeled.
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Sure. I have a friend who lives in a high rise with no thirteenth floor.
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From the linked article:
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True. And I'm sure that there are people who wouldn't mind having random strangers looking at their naked body as long as there's no way to identify them, but would be horribly embarrassed if anybody they knew saw the pictures, or they were showing their ID so that people could find out who they were and possibly harass th
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It's probably lucrative enough to offset any fraud of this type, and maybe the loan sharks know how to use Google's reverse image search.
Actually, I bet they are organising these loans through QQ or a similar social media platform. In which case they can probably see the applicant's public photos and friends, so the amount of effort required to create a fake ID increases.
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That was my first thought. Someone elses photo with a faked ID. Profit!
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Asia has a different culture. Different prudency. It's a much bigger deal over there than it is over here.
Which is, btw. why the CIA torture methods used in Abu Ghraib weren't recognized as such. They finly tuned their methods to the local culture, which is a lot more prudent than Western culture. Taking pictures of the naked men piled up may have been worse than amputations for them. Needless to say, this is further prove that the torture wasn't some lower guard guy's idea. There was no justice.
God forbid my parents see me naked (Score:5, Funny)
They haven't seen me naked before.
Comment removed (Score:5, Funny)
So, when the inevitable happens... (Score:5, Insightful)
So when someone hacks in to the lenders server, steals the pictures, and posts them (which will undoubtedly happen) will the loans be forgiven?
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Cultural differences (Score:2)
Naked pics for a personal loan is a way better deal than a car title loan.
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The people of Wal-Mart [peopleofwalmart.com] would like to talk to you about this interesting idea.
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Cautionary tale: some things you cannot unremember.
Simple way around that law (Score:1)
Provide a file locker service for a relatively high fee, say $250 for 5 years of service (this way nobody uses it except those using this scheme, but they could if they wanted to). The client encrypts the data and uploads it to the file locker themselves. They upload the key separately and set the time themselves for when the key file will be released and the server will autodecrypt the files.
Once this is complete and the loan arranger is satisfied with the files and the time selected, the funds are disbu
y'all are missing a potential use by some... (Score:1)
There are people who should never, ever, have a naked picture of themselves made publicly available. The rest of us would band together and pay off their loans ourselves, just to avoid that calamity.
There are things you can never unsee...
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Please delete this comment. I'm just about to apply for a loan. ;-)
if that's all (Score:2)
to no longer pay a loan back, that's pretty cheap, I'd say...
i will do it for 1 million dollars (Score:2)
I wonder... (Score:5, Funny)
I wonder how big a loan the goatse.cx guy forfeited on.
Re:I wonder... (Score:5, Funny)
I wonder how big a loan the goatse.cx guy forfeited on.
Well, he certainly get reamed for stretching the payments.
money (Score:1)
Twice? (Score:2)
So... both kidneys?
Faaaaaake (Score:4, Insightful)
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That's not in line with their agenda of shaping our perception of China, Russia, and North Korea as backwards lands full of idiots that we are clearly better than.
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Not in the People's Daily. It is the official newspaper of the Communist Party, and always takes the government line. The government has been trying to crack down on fake stories and rumours, including jailing people found guilty of publishing false rumours, so the People's Daily is highly unlikely to print such.
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You're right. How could one possibly doubt the Official Government Newspaper of the Communist Party of the People's Republic of China.
One Word... (Score:1)
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Illegal? (Score:2)
> Both are illegal and they will commit double offense
Ehh. Yeah, so what is different from the older tactic of promising to pop someones kneecaps? I'm told this is illegal too.
Shady lenders use shady tactics to force their clients to repay them. That's how it works. Now they have moved to the "internet" and "I know where to find you! (silently promises to pop kneecaps) " is no longer a threat to someone "far away" online, possibly through tor or whatever.
I find the new strategy less barbaric than the old
A matter of time (Score:2)
Hallmarks of a hoax (Score:5, Insightful)
1) Foreign story - in China.
2) Plays to a cultural stereotype - Chinese are overly concerned with 'face'.
3) Coverage is via an unheard of news sight, rather than major media.
Also - there is no power for the person that takes out the loan - once you give them the power to blackmail you there is no reason for them to stop just at the amount you owe. What if they get hacked?
No - stupid business idea. Probably a fake story
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You omitted:
4) Includes descriptions of sex or nudity.
If the story didn't have people thinking about seeing naked Chinese women, it wouldn't have any legs at all.
So? (Score:2)
Release them. If you do it often enough, the scandals about naked pictures will be nonexistant, as too many people had the pictures "leaked". Now good luck getting your money, if your threats are useless.
China is BETTER (Score:1)
In India they actually rape them http://www.thenewsminute.com/a... [thenewsminute.com]
One word... (Score:1)
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Clearly.