According to new data from the Central Bank of Cyprus (CBC), 15 uncovered checks totaling €26.34 thousand were issued in Cyprus in March 2024, compared to 16 uncovered checks totaling €19.388 thousand a month earlier.
These were issued by 5 companies and 1 individual. The Central Bank noted that all checks were added to the preliminary list of the Central Information Repository (CIR), maintained by the financial institution.
In turn, in January-March 2024, a total of 76 uncovered checks worth 115,376 thousand euros were registered in the CIR, against 92 checks worth 276,694 thousand euros a year earlier. This confirms a significant decrease in the figures.
It is worth noting that in the first three months of this year, 31 people (22 legal entities and 9 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.