The Chinese 'nude debt' surrounded the Indians - photo 1

Chinese ‘nudity’ crowding Indians | World

Only in the past 10 months, the Indian authorities discovered transactions related to the loan application with a total amount of at least 3 billion USD, according to the report. Times of India.

Hundreds of online lending applications that appeared during the Covid-19 epidemic such as Paytm and Ola, have significant sources of money from China, worth about $ 4 billion, including companies like Tencent and Ant Financial. Alibaba group. Most of these loan applications are located in China.

In India, many people in small towns and rural areas cannot access banking services, so they are forced to borrow money from “usury” individuals with interest rates up to 300% per year. Many other residents turn to borrowing at loan applications with promises of quick and easy loan processing, but they do not know they will fall into the Chinese debt trap.

In one particular case, an Indian girl borrowed only a small loan of 3,500 rupees ($ 48) from a Chinese loan application.

A few days later, she discovered 26,000 rupees had been transferred to her bank accounts from 14 different loan applications that she had never downloaded to her phone. Debt collectors from all of these apps rushed to send her notices asking her to pay the full principal and interest of up to 44,000 rupees – more than 10 times the amount she originally borrowed.

When the girl was unable to pay off the loan, the Indian debt collectors representing the Chinese creditors repeatedly called to terrorize her. They also stitched pictures of her face on her nude body to create erotic images to intimidate the victim.

The nude pictures are sent to all home addresses, social media accounts of relatives and friends that the girl provides to the loan application. Under a contract, the loan application collects all personal data as collateral.
Consumer Protection Association Cashless Consumer (India) has investigated and discovered hundreds of loan applications store Indian user data in China. To date, Indian police have recorded at least six suicides in Telangana state, stemming from debt collection with nude jigsaw puzzles.

Many Indians lose their income because Covid-19 is easily the target for Chinese online lending applications.

In the past, the Chinese media have reported that girls in China have to take nude pictures of themselves as collateral for loan applications or even be forced to sell sex if they do not pay off their debts.

Indian police recently dismantled a line, in which the Chinese lead, authorizing a number of Indians as directors and accountants to set up financial companies in India. The accountants helped the Chinese to set up 40 companies, of which 12 run the aforementioned fraudulent and extortion loan applications. Finally, police from four different Indian states jointly arrested seven Chinese nationals in early January and 35 Indians.


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