In March 2025, 11 uncovered cheques were issued in Cyprus for a total of €72,002.
This was announced by the Central Bank of Cyprus on Thursday 10th April.
They were issued by eight companies and one individual. The Central Bank said that all the cheques have been added to the preliminary list of the Central Information Repository (CIR), which is maintained by the financial institution. Interestingly, 34 uncovered cheques totalling €42,493 were registered a month earlier, while the total number of persons registered on the CIR's provisional list was 10 (three legal entities and seven individuals).
The Central Bank of Cyprus also highlighted that in March 2025 the number of persons registered on the CIR was 6 (3 legal entities, 1 natural person and 4 natural persons controlling legal entities).
In turn, 61 uncovered cheques were detected in the first three months of 2025, for a total amount of €156,564 (35% more than in the same period of 2024). By comparison, between January and March last year, Cyprus recorded 76 cheques worth €115,375.
Between January 2020 and March 2025, more than one thousand cheques will be registered in the CIR. Finally, more than 2.5 thousand bounced cheques worth more than €6 million were issued in Cyprus in 5 years.
The Central Bank of Cyprus stresses that it is closely monitoring the situation and urges individuals and businesses to exercise financial prudence so as not to contribute to this growing problem.