In recent times, the activities of usurious lending by criminal groups have become increasingly complex and large-scale, with increasingly sophisticated methods. The Criminal Code 2015 of Vietnam also has provisions for handling criminal acts of usurious lending. However, the implementation in practice still has many shortcomings, especially in determining the illicit gains to consider criminal liability for usurious lenders.
Lending assets is a civil transaction which parties have the right to negotiate. However, many individuals have abused this right to impose excessively high interest rates that exceed legal regulations, adversely impacting social life. Therefore, the state has issued regulations to penalize the practice of usurious lending. So, will act of usury result in a fine or imprisonment in Vietnam?
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