back to article Chinese loan sharks seek salacious selfies as collateral

Loan sharks in China are reportedly accepting nude selfies as collateral, presumably on the basis that the threat of publication is an effective way of ensuring the loan is repaid. The news first emerged in the local Nandu Daily (we think this expose is the story in question) and hit the People's Daily Online here. The …

  1. Rol Silver badge

    You can bank it, each day and everyday, until the loan's paid

    I suspect absenteeism due to RSI in the securities division has rocketed.

  2. Red Sceptic

    Monty Python had this sorted 45 years ago ...

    https://www.youtube.com/watch?v=khXJqedYRpw

    1. frank ly

      Re: Monty Python had this sorted 45 years ago ...

      I remember watching that and talking about it the next day at school. Is it really 45 years ago?

      1. Francis Boyle Silver badge

        Re: Monty Python had this sorted 45 years ago ...

        Judging by how absurdly young Michael Palin looks, I'm afraid so.

  3. Anonymous Coward
    Meh

    "on a whopping 30 per cent rate of interest per week."

    Sound about the same as many of the "legit" ones you see advertised in the UK.

    1. Fruit and Nutcase Silver badge

      and 30 per cent per year is better than the indicative rate advertised for some of the well known UK Credit Cards

  4. Aaiieeee

    Shurely

    This is exploitation?

    Also, people must be fairly desperate to take this route? I mean I'd do this (presumably) if I had to feed my kids (I don't have any) etc, but not for anything less than that.

    Alternatively if someone assigns no value to their image/reputation (or has no friends/family) then they may as well claim the free cash!

    1. Anonymous Coward
      Anonymous Coward

      Re: Shurely

      This is exploitation?

      It's a payday loan company, it's just a little bit scummier than most of them.

    2. imanidiot Silver badge

      Re: Shurely

      You'll be hard pressed in china to find anyone that doesn't care about their image/reputation. "Face" is highly important in Chinese society.

      1. RedCardinal

        Re: Shurely

        It's not just their face that people will be seeing :P

        1. Charles 9 Silver badge

          Re: Shurely

          Point is the Far East has probably the highest suicide rate in the civilized world. Death Before Dishonor has a lot to do with that.

  5. FuzzyWuzzys
    Facepalm

    Can't see that ever working in the west, simply trawl through any number of social media sites here and you'll quickly discover some people have no shame about showing off their unsightly bits of flesh for all the world to see!

    1. Tom 7 Silver badge

      Re: Can't see that ever working

      It wouldnt work here - my selfie would probably be one of Jordans pics. I could send on of me but the loan shark would not be able to finish the transaction.

  6. Stevie Silver badge

    Bah!

    Obvious fake story. Money is superfluous in the worker's paradise. Report for organ reassignment.

    1. Chris 239

      Re: Bah!

      Well that's at least 3 that don't understand sarcasm!

      1. LaeMing Silver badge
        FAIL

        Re: Bah!

        Or 4 that just didn't find it in the least funny.

        1. Stevie Silver badge

          Re: Bah! 4 LaeMing

          It wasn't intended to be funny.

  7. This post has been deleted by its author

  8. Tikimon Silver badge
    Joke

    Possible reverse exploit?

    I'll grant you it's a long shot, but this would be a great way to have someone pay YOU to launch your porn career. Get a loan, send explicit selfies, don't repay loan, lots of free "exposure".

    Just thinking through the possibilities...

    1. Yamal Dodgy Data

      Re: Possible reverse exploit?

      Or as they say in China..

      我会送我的大屁股的照片,以高利贷 , 发生违约 , 我就发财了

      The possibilities are endless

      1. JWLong

        Re: Possible reverse exploit?

        I will send my big ass photo , with usury , default occurs , I will be rich

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