The Central Bank of Cyprus (CBC) on Thursday reported an increase in bounced cheques during the first quarter of 2024, when compared to the same period of the previous year.

According to a report by the CBC, a total of 15 bounced cheques, amounting to €26,340, were issued in March alone.

These cases led to 6 individuals, comprising 5 legal entities and 1 individual, being listed in the preliminary registry of the Central Information Registry (CIR) for bounced cheques, which is maintained by the CBC.

Moreover, the period spanning from January to March 2024 witnessed a surge in bounced cheques, with 76 cases recorded, accumulating to a total worth of €115,376.

This stands in contrast to the 92 bounced cheques worth €276,694 registered during the same period last year.

In addition, the bounced cheques issued in the first quarter of this year involved 31 individuals, consisting of 22 legal entities and 9 individuals.

Furthermore, the central bank’s report showed an increase in the number of individuals listed in the CIR, reaching 13 in March 2024. Among them, 6 are legal entities, while 7 are individuals associated with legal entities.

In total, 60 individuals were added to the CIR during the first quarter of 2024, marking a decline from the 77 individuals added during the corresponding period in 2023.