Cyprus Mail

€2.3m in bad cheques

A LITTLE over 1,600 bad cheques ‘worth’ €2.3m have been issued so far this year, according to data released by the Central Bank of Cyprus (CBC) on Tuesday.

The CBC publishes related data from its Central Information Registry every month.

Up until the end of August, 191 persons and 170 corporations issued cheques that bounced for a combined €2,301,000.

In 2013, the total value of bad cheques came to €5.67m, although no data were available for the months April through July, as operation of the registry had been suspended from March 15 to August 31. Last year in total 253 persons and 318 corporations had written cheques that bounced.

The value of bad cheques issued in 2012 totalled €7.76m, €6.44m the previous year.

2009 was the worst year on record, when bad cheques of €9.3m were issued. The CBC records go back to 2003.

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