ECONOMY

Cyprus sees rise in value of bogus checks

cyprus-sees-rise-in-value-of-bogus-checks

The total value of unsecured checks issued in Cyprus in 2021 rose to 930,000 euros compared to €740,000 in 2020.

However, the total number of unsecured checks dropped to 363 compared to 454 the year before.

According to data released by the Central Bank of Cyprus, the total value of unsecured checks issued in December 2021 and included in the CBC’s preliminary Central Information Register (CIR) jumped significantly to €250,506 – more than double the value of unsecured checks issued in the previous month (€97,696) and almost five times the respective amount of December 2020 (€51,232).