New Text Notification

Vietnam: Guidance on solving problems when applying the provisions on "Usury in civil transactions"

12:07, 28/10/2020

Recently, the Supreme People's Procuracy of Vietnam has issued the Official Dispatch No. 4688/VKSTC-V14 guiding and solving problems during the application of Article 201 of the Criminal Code 2015 (amended in 2017) of Vietnam.

The Supreme People's Procuracy of Vietnam has views on guiding and solving problems during the application of Article 201 of the Criminal Code 2015 (amended in 2017) of Vietnam on the crime of usury in civil transactions are specified as follows:

- Illegal profits to determine criminal liability;

- Handling of the principal amount and the amount of illegal profit earned by the offender from the usury;

- Handling of illegal profits (the interest corresponding to the interest rate above 20%/year);

- Regarding the case of loans with different interest rates in each period, there is a period where the interest rate is 5 times or more of the highest interest rate in the Civil Code and the illegal profits that satisfy the provisions of Article 201 of the Criminal Code (phase 1).

View more details at the Official Dispatch No. 4688/VKSTC-V14 issued on October 09, 2020.

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