Rising number of bounced checks a growing concern

A total of 36 bad cheques, worth €566,732, were issued in October 2023, with 21 persons (14 legal entities and 7 natural persons) being registered in the preliminary list of the Central Information Register for the Issuers of Dishonoured Cheques (CIR), maintained by the Central Bank of Cyprus (CBC).

Between January and September 2023, according to data released by the CBC on Wednesday, 280 dishonored cheques, with a total value of €1,536,853, were registered in the preliminary list of the CIR.

The amount for the 10 months of 2023 has exceeded the total amount of dishonored cheques for 2023, which amounted to €1,518,669. In this period, the bad cheques were issued by 192 persons (109 legal entities and 83 natural persons), compared to 258 in the corresponding period last year.

In addition, according to the data of the CBC, 21 persons were registered in the CIR in October 2023, of whom 9 were legal entities, 2 were natural persons and 10 were natural persons who control legal entities.

During the first ten months of this year, a total of 228 persons were registered in the CIR, compared to 209 persons in the same period last year.