Bounced cheques issued in Cyprus increase in August

Bounced cheques issued in August amounted to €75,840 marking an increase of 72% compared with the previous month, data released today by the Central Bank of Cyprus show.

According to the CBC, 39 bounced cheques were issued in August compared with 33 in the previous month, while the value of bounced cheques rose to €75,840 compared with €43,949 in July 2020.

For the period of January – August the number of bounce cheques amounted to 282 compared with 629 in the respective period of 2019, marking an decline of 55% which is mainly attributed to the two-month lockdown enforced by the Cypriot authorities as part of the measured to limit the spread of the coronavirus pandemic.

The value of bounced cheques issued in the period of January – July 2020 amounted to 523,702 compared with €1 million in the respective period of 2019, marking a reduction of 48%.

Furthermore, 14 persons have been registered in the Central Information Registry’s preliminary list, of which 14 legal persons and 10 natural persons. Total registrations for the period of January – August amounted to 182, the CBC added.