Slashdot Mirror
Online Loans Made In China Using Nude Pictures As Collateral
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,"
Pics or it didn't happen!
#DeleteChrome
n/t
What's to stop someone from sending a random nude pic they get from the Internet? I see that they also need to upload an ID card, but since it's being sent electronically, it would be trivial to replace the photo in the image of the ID card with the face of the person in the nude pic. It doesn't sound like a very reliable way to secure a lone. And there are some people who just don't care who sees them naked. If that weren't the case, there'd be no pornography industry. This really doesn't sound like a good business model.
If I can be modded down for being a troll, can I be modded up for being an orc, or a balrog?
They haven't seen me naked before.
So when someone hacks in to the lenders server, steals the pictures, and posts them (which will undoubtedly happen) will the loans be forgiven?
Naked pics for a personal loan is a way better deal than a car title loan.
Happiness in intelligent people is the rarest thing I know.
Ernest Hemingway
Huh? They have more dignity otherwise it wouldn't work. Or maybe it's body shame.
Clearly.
Happiness in intelligent people is the rarest thing I know.
Ernest Hemingway
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 disbursed. The file locker fees are deducted from the amount owing on the loan.
The client chose to upload the items and chose the time they would be decrypted, and provided the decryption key. The client is spreading the pornographic material as they uploaded it to the file locker service which allows any customer to upload anything and has mouse text that says they disallow pornography.
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...
to no longer pay a loan back, that's pretty cheap, I'd say...
There are lots of nekkid pictures on the Internets. I'd send them one, if they were happy to put it on a web page instead of me paying them back for a loan.
"National Security is the chief cause of national insecurity." - Celine's First Law
and i will take that money and disappear too
Politics is Treachery, Religion is Brainwashing
I wonder how big a loan the goatse.cx guy forfeited on.
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 gaining 15 pounds really quickly, I actually took a picture of myself, bare chested, or rather bare bellied... I still keep it, to remind myself what happens when I get out of shape. But I make no secret of it, my wife knew of it before she married me, and she's been telling the story...
3) It is beyond trivial to take a picture of yourself, holding your ID, naked or clothed, and combine it with a picture of a naked body that no one who knows you will think is yours. Sure, you have to mess with the image afterwards to erase the most common telltales... a google or two will teach you enough.
4) I know models who get paid less for photoshoots I find more embarrassing than a simple naked picture.
No good deed goes unpunished...
You think that's undignified? For a Jumbo Loan they require a Goatse pose.
Some drink at the fountain of knowledge. Others just gargle.
easy money for a hooker in school
There are some big cultural differences about nudity between America and China. The Edison Chen Photo Scandal 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.
Sounds like a good way to get free money... until you realise that anyone who would run a loan scheme with voluntary extortion as the collateral is probably not going to stop at that to get their money back.
So... both kidneys?
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.
I've fallen off your lawn, and I can't get up.
"voluntary extortion"
Oxymoron.
"National Security is the chief cause of national insecurity." - Celine's First Law
What would prevent a borrower from photoshopping a different, much better body onto his/her head?
I saw what you did there.
File under 'M' for 'Manic ranting'
There are a constant stream of fake stories out of Chinese media on a daily basis. This smells just like one of them. Wait for the retraction in a few days. In the meantime, shame on Slashdot for posting obvious crap. Let this kind of shit stay on TMZ and Gawker where it belongs.
Shutting down free speech with violence isn't fighting fascism. It IS fascism!
Genius! :-)
Loan denied
I'm thinking this would not work in the US. Who doesn't have a naked photo of themselves floating around?
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 likes him.
But hey, that is pretty much unavoidable so I'm just going to have to enjoy the few things I can about the whole situation.
> 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 one actually....
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.
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 !
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 attractive. Not hard to believe there might be others. Same is true for pretty much anyone else out there. Even people who are generally considered not terribly attractive by most can typically find a few people who are interested.
Database hacked into and contents dumped in 5...4...3...
Wanna buy a shirt?
https://www.redbubble.com/people/stealthfinger/shop?asc=u
People tend to avoid embarrassment and humiliation. Different people find different things to be embarrassing. You may not care if your nude photos are published. Others would care.
If you're scared of your govt then you need to further restrict its powers
Vote 3rd Party in 2016 and beyond
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
excitingthingstodo.blogspot.com
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.
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.
I stand corrected, thereby disproving at least part of your statement.
In India they actually rape them http://www.thenewsminute.com/a...
Casteism
Photoshop
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 enough. But I am only guessing.