Bounced cheques double to €5.3 mln in Cyprus

The total value of bounced cheques in Cyprus has already reached 5.3 mln euros in the first half of the year, nearly level with last year’s total of 5.6 mln, primarily due to the worsening economic situation, officials said Monday.
To date, 948 individuals and companies have issued 2336 cheques, compared with 1181 issuers and 3014 cheques last year, said Yiangos Demetriou, chairman of the Central Bank’s central financial information depository (KAP), speaking at the launch of the First Cyprus Credit Bureau’s new service that will allow individuals access to the ‘black list’ of bounced cheque violators.