Bad checks surge 34.2 percent in May period

ISTANBUL - Anatolia News Agency

The number of bad checks in Turkey surged 34.2 percent from last month to 83,080 in May, according to data of the Central Bank. The figure was 61,875 in April.

The rate of the year-on-year increase in bad checks in May was an eye-popping 117.9 percent. The number of bad checks in May 2011 was 38,117.

Also, the number of checks interdicted by courts increased by 117 percent to 91,722 compared with the previous month.

A new check law went into effect on February 3, lifting the penalty of imprisonment for those who has issued bad checks. According to new check law, those who issue bad checks will not have it appear on their criminal record, with it instead being part of the Central Bank’s records.