Students forced to give a ‘naked IOU’ to get a loan spark an outcry in China
Photographs used to threaten young women if they try to default on their debts
An opinion poll has suggested sharply divided opinions among the public in China after reports revealed that some female college students had to pose apparently naked holding their ID cards in order to get a loan.
The reports earlier this month said the people or groups lending the cash used the photographs as form of insurance or threat, saying they would publish the pictures if the debts were not paid back by the students or their parents.
A survey on the issue was carried out among just over 69,000 people and about 55 per cent of those polled said the women should be blamed, the Legal Weekly reported. Some said the case reflected falling moral standards.
About 44 per cent, however, said the loan sharks should take all the criticism for taking advantage of the young, vulnerable women.
Photographs of students have been published on the internet and marked “nude-selfie IOU”, with some trying to profit by selling the pictures.
The Southern Metropolis Daily reported earlier this month on the case of one young woman, whose real name was not given, who initially borrowed 500 yuan (HK$600) from a middleman on the peer-to-peer lending platform Jiedaibao at a weekly interest rate of 30 per cent.
She had to take out new loans to repay old debts and the situation spiralled out of control, the newspaper said. It left her with an accumulated debt of 55,000 yuan.
She only managed to get a further loan after providing a nude photo of herself holding her ID card, the report said. A number of loan sharks have demanded pictures, according to media reports.
The education and banking authorities have jointly issued rules to curb illegal online lending on all campuses.
Observers were quoted in the Legal Weekly as saying it was difficult for regulators to stop such loans which were conducted privately online.
College students are often shunned by banks after a bout of credit cards defaults in recent years.
Banks take a cautious stance on lending to students, although the China Banking Regulatory Commission allows lenders to issue them credit cards if their parents can guarantee repayment.
