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In a recent disclosure, the Cyprus Central Bank unveiled a decrease in the issuance of uncovered checks during 2023, reporting a total of 356 compared to the previous year's 473.
While this marks a positive trend, the data also reveals a contrasting surge in the overall amounts associated with these checks.
According to the Central Bank's preliminary records, the total value of uncovered checks in 2023 amounted to a substantial €1.767.912 million. This signals a noteworthy increase compared to 2022 (€1.518.669 million), 2021 (€933.945 million), and 2020 (€741.700 million).
Digging deeper into the statistics, it becomes apparent that legal entities and individuals are intertwined in the issue of uncovered checks. A total of 231 entities, comprising 136 legal and 95 natural persons, found their way onto the Central Information Registry's preliminary list.
This registry, managed by the Central Bank, serves as a record for uncovered checks in Cyprus.
Further analysis of the figures reveals an intriguing shift in the number of individuals listed. In 2023, a total of 274 persons were registered, including 101 legal entities, 48 natural persons, and 125 individuals associated with legal entities.
This contrasts with the figures from 2022 (255), 2021 (179), and 2020 (186), indicating a dynamic landscape in the realm of financial transactions.
The report underscores not only the reduction in uncovered checks but also the evolving nature of financial interactions in Cyprus.
As the Central Bank navigates these changes, the intricate relationship between legal entities and individuals in the issuance of checks remains a focal point for financial scrutiny.
[With information sourced from CNA]
