According to new data from the Central Bank of Cyprus (CBC), in February 2024, 16 uncovered checks were issued in Cyprus for a total amount of 19,388 thousand euros.
They were issued by 7 companies and 2 individuals. The Central Bank noted that all checks were added to the preliminary list of the Central Information Repository (CIR), which is maintained by the financial institution.
In turn, in January-February 2024, a total of 61 uncovered checks worth 89,035 thousand euros were registered in the CIR, compared to 160,882 thousand euros a year earlier. This confirms a significant decrease in the figures.
It is worth noting that in the first two months of this year, 25 people (17 legal entities and 8 individuals) were affected by checks that did not receive a refund.
Recall that since 2003, from which the Central Bank of Cyprus has been keeping such statistics, until November 2023, a total of more than 100 thousand "bad" checks were issued for a total amount of more than 10 million euros.
The Central Bank of Cyprus emphasized that it is closely monitoring the situation and urges individuals and businesses to exercise financial prudence in order not to contribute to this growing problem.