Paalala sa mga Pilipino sa Italya na ang pagpapautang o pagpapahiram ng pera sa kahit na anong interest rate, na walang pahintulot mula sa gobyerno ng Italya, ay bawal at itinuturing na krimen na “usury”.  Ito ay mas kilalang “5-6” ng mga Pilipino.

Kung sa Pilipinas ay hindi na krimen ang “usury”, ito ay mahigpit pa ring ipinagbabawal sa Italya.  Sa batas ng Italya, isang krimen ang magpautang ng pera na walang pahintulot ng gobyernong Italyano.  Tanging mga bangko at registered financial institutions lang ang pinapayagan ng Italya na magpautang ng pera.

Pinaaalalahanan din ang lahat ng Pilipino sa Italya na huwag gamitin ang kanilang Philippine passport na garantiya o collateral sa mga loan transactions, dahil ito ay iligal sa batas ng Pilipinas.

The Philippine Embassy advises Filipinos in Italy that lending or borrowing money at any interest rate, without the authority from the Italian government, is prohibited in Italy, as this is a criminal offense called “usury”. This is the practice colloquially known as “5-6.”

Unlike in the Philippines where “usury” has been decriminalized, usury remains a crime in Italy.  Under the Italian penal system, any money lending activity performed by “unauthorized” individuals and institutions is considered a crime.  Italy only authorizes banks and registered financial institutions to conduct legitimate lending/loan transactions.

Under Italian law, it is still considered “usury” to lend cash, with the borrower signing a promissory note to pay installments with a total greater than the amount of cash borrowed. This practice comes in different forms, and sometimes the undertakings are for payment of installments for appliances, furniture, or other items instead of cash.

The Embassy also reminds Filipinos not to use their Philippine passports as guarantees for loans because this is against Philippine law.  Under the Philippine passport law, the passport "remains at all times the property of the Government, the holder being a mere possessor thereof as long as it is valid and the same may not be surrendered to any person or entity other than the government or its representative."

The Embassy strongly appeals for Filipinos to avoid engaging in these types of transactions to avoid serious problems.