bounced cheques

Surge in Bounced Cheques Hits Cyprus

The surge in bounced cheques in Cyprus, totaling €115,376 in Q1 2024, signals financial distress and undermines economic stability, prompting close monitoring by the Central Bank of Cyprus. The increase in bounced cheques not only affects the individuals and businesses involved but also raises concerns about transaction confidence and overall economic health.

Bounced Cheques Worth €19K Issued in February, CBC Reports

By Demis Papadopoulos

In February, the Central Bank of Cyprus reported 16 bounced cheques worth €19,388, involving 7 legal entities and 2 natural persons. This marked a decrease from the previous year, emphasizing the importance of regulatory measures to prevent financial malpractices.