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New law for incriminating of the usury activities

The usury activities are prohibited in Romania under the Law no. 216 of 16 November 2011, published in the Official Gazette no.  827 of November 22, 2011, Part I [in Romanian, Legea nr. 216 din 16 noiembrie 2011 privind interzicerea activitatii de camatarie].

According to Law no. 216/2011, the usury practise constitutes a crime which may be punished with 6 months to 5 years in prison. The amounts resulting from the usury practice will be confiscated.

The new enactment shall be applicable until the entry into force of Law no. 286/2009 regarding the Romanian Criminal Code.

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