Value of bounced cheques rises 25% in 2021

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The value of bounced cheques issued in 2021 rose to €0.93 mln, up 25.6% from €0.74 mln in 2020, whereas the number of bad cheques dropped to 363 from 454 the year before.

According to data released by the Central Bank of Cyprus, the value of cheques issued in December alone and included in its preliminary Central Information Register (CIR) jumped to €250,506, more than double the value of bounced cheques issued in November (€97,696).

And more than quadruple the respective amount of December 2020 (€51,232).

A total of 99 legal entities and 95 individuals were included in the preliminary CIR in 2021 compared with 147 and 129, respectively, the year before.

Legal entities registered in the CIR in 2021 was 58 from 66 in 2020, while individuals rose to 50 from 40.

Furthermore, 71 people that controlled legal entities were blocked in 2021, with total registrations for 2021 amounting to 179 from 324 the year before.