You’re a student, you haven’t started earning, and you’re in dire need of some money. So what do you do? You can apply for a loan. JD Capital’s Jiedaibao offers loans online. While that may sound convenient, what they ask for as collateral doesn’t at all.

Jiedaibao has been asking female students to submit their nude photos, which the company threatens to expose to friends and family of the student if the loan amount is not paid in full and on time.

Yes, that’s true! And the students are asked to pose with their IDs in these nude photos.

A student from Jiangsu Province wanted to start a small business in February. So she decided to go for a ‘nude loan’. She received 1,20,000 yuan (approx ₹12,00,000). But her debt had piled up to 2,50,000 yuan (₹25,00,000) in just four months. The student who goes by the alias Lin Xiao had to eventually ask her family to help pay off her debts.

I know what you’re thinking. That even after the loan is paid, what if they threaten you further? What if they still publish the photo somewhere? 

Well Jiedaibao’s customer care service said that the deal is a private one between the agent and the student and the company cannot interfere. Convenient, isn’t it? So basically you’re helpless in a way.

Zuo Shenggao, a lawyer from Jingshi Law Firm, said that, “Nude photos are not property. It is in the category of reputation rights.” Which basically means that these photos aren’t even valid as collateral. 

But female students are falling for the scheme. Some agents have reported to have asked for sexual favours as well.

State-run site china.org.cn reported “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 offence.”

But will that in any way make you feel safer about those photos?

Like I mentioned earlier, some people can do anything in the name of innovation and improving efficiency. However retarded the idea may be.