Two people were remanded in police custody on Wednesday while a third is being looked for by the police after $4,300 in counterfeit notes was transferred to the Bank of Cyprus from Astrobank.
The case came to light when the branch manager of a bank in Paphos said that among $6,300 collected in foreign currency by the bank and forwarded to the Bank of Cyprus on January 31, a total of 43 $100 bills were believed to be fake so were forwarded to the police.
The money handed over was sent by the police for scientific examination, where found that was counterfeit.
Paphos police spokesman Michalis Nicolaou a 51-year-old woman had on three occasions deposited the money that has since shown to be counterfeit in her account. An arrest warrant was issued against her and she was arrested on Tuesday.
During police questioning she also named her husband, 54, and another man aged 35.
The husband was also arrested on Tuesday which police continue to search for the younger man.
On Wednesday the husband and wife were brought before the Paphos district court which issued a two-day remand order against them.