More university students in China are being scammed into sending nude photos to loan sharks as collateral.
Nanyang Siang Pau reported that the female students never received the loan money and were blackmailed instead.
Loan sharks have been using this collateral arrangement since 2016 and borrowers would get the money.
A 17-year-old student named Mei Mei from Guangdong said she had to turn to loan sharks when her online business failed last year.
She also had to repay a 3,000 yuan (S$619) loan to a friend.
After contacting an online loan shark, Mei Mei was asked to send nude photos of herself holding her identity card. She had to also provide the contact details of her parents and friends.
In the end, she did not get any money but was told to cough up 1,000 yuan.
An unknown person later sent the nude photos to Mei Mei and her parents.
The sender threatened to circulate the photos if she failed to pay up.
With the help of her parents, she lodged a report and police managed to arrest a suspect.