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Hundreds Female students in China are forced to take naked selfies, as collateral to pay their debts to usurers.
Local media, the China Youth Daily, reported that there were 167 intimate photos and videos with naked students aged 19 to 23 years old.
At least 10 GB of similar data is disseminated online, along with contacts and addresses of victims.
The scandal unveiled the operation of "underground bank" which is widely used by the Chinese facilitated by Internet technology.
Many students, workers and residents of remote areas have credit histories in the central bank referral center, a banking system that records citizens' credit information and can be accessed online by the public.
If they are registered in the system, they can not borrow money from banks or traditional financial institutions.
It is estimated that more than 500 million Chinese belong to this group.
These are easy targets for peer-to-peer lending platforms, or loan methods that bring borrowers and lenders together online.
The loan sharks' platform generally has a low risk awareness and sets a very high interest rate.
Students who do not have collateral badets are the main consumers of online credit who can easily disburse funds within hours by simply completing certain forms.
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