articles | 02 July 2014

Bad cheques worth €1.5m issued in first half of 2014

Bad cheques worth around €1.5 million were issued in the first six months of the year, Central Bank (CBC) data showed.

According to data from the central register for issuers of dishonoured cheques (CIR), 1,301 bad cheques worth some €1.5 million were issued in the first half of the year, earning 667 individuals and companies a place on a preliminary blacklist.

The number who eventually made the blacklist reached 434 – 125 companies, 147 individuals, and 162 individuals who control companies.

Individuals and companies are placed on the register if they have, over a period of 12 months, issued at least three bad cheques irrespective of value, or the combined total value of any dishonoured cheque or cheques issued over this period exceeds €2.000.

Source: Cyprus Mail

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