CYPRUS: Bounced cheques at nearly EUR 136,000 in July

Cyprus business is still plagued by the scourge of bad cheques with the value of bounced cheques reaching €135,817 in July, provisional data released by the Central Bank of Cyprus show.

For the first seven months of the year to July the unpaid amount stood at €833,114.

The average monthly value of bad cheques so far this year is €119,016.

In July, the number of bounced cheques which were recorded in the preliminary list was 71, while from the beginning of the year it reached a worrying 494.

Since the beginning of 2018 there have been 59 legal entities and 70 individuals included on the bounced cheque blacklist.