Central Bank of Cyprus reports decline in bounced cheque registrations in 2025

According to the Central Bank of Cyprus, the average monthly number of registrations for bounced cheques dropped significantly in 2025 compared to 2024. The main file saw a 47 per cent decrease, falling to an average of 9 registrations, while the preliminary list decreased by 23 per cent to an average of 10 registrations. This trend is attributed to the reduced use of cheques and a market shift toward electronic payment methods. Throughout 2025, the competent committee held 19 sessions to address financial records. These sessions processed 202 requests for the deletion of natural and legal persons from the Central Information Register. Additionally, the committee handled 15 requests for the release of funds from frozen accounts following the submission of necessary documentation by credit institutions. Looking ahead to 2026, the central bank aims to replace the current electronic system with a modernized platform to meet updated regulatory and technological standards.