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A Decline in Counterfeit Banknotes in Cyprus: What You Need to Know for 2024

In a positive turn for financial security in Cyprus, 2024 saw a decrease in counterfeit euro banknotes, with just 571 fake notes removed from circulation. This marks a notable 11% drop compared to the previous year, according to the Central Bank of Cyprus.

The Most Counterfeited Euro Denomination

Among the counterfeit notes, the €50 denomination topped the list, accounting for 36.8% of the total discovered in Cyprus. Although the number of fake notes is relatively small compared to the genuine ones, vigilance in cash transactions remains paramount.

Global Context

Across the euro area, around 554,000 counterfeit euro banknotes were intercepted in 2024, representing an 18.6% increase from the year before. Notably, €50 and €20 notes made up 79.6% of this total.

The Central Bank of Cyprus provides resources for the public to verify the authenticity of their banknotes, a crucial step in safeguarding transactions.

Celestyal Cruise Line Revives Mediterranean Operations Amid Strategic Maritime Transit

Celestyal Cruises has returned its two main vessels, Celestyal Discovery and Celestyal Journey, to the Mediterranean following transit through the Strait of Hormuz and the Suez Canal. The return allows the company to proceed with its summer schedule, with sailings from Athens set to begin on May 1.

Strategic Passage And Operational Coordination

The cruise line reported that both vessels completed their critical transit with distinction, enabled by a well-executed plan that prioritized crew safety and meticulous coordination with international authorities. Celestyal’s operations team, led by industry veteran Captain George Koumpenas, collaborated with regional governments and even received oversight from the US Navy, ensuring a secure journey during uncertain times.

Revitalized Itineraries And Commercial Response

With both ships back in operation, the company is resuming its summer programme. Scheduled sailings include a three-night “Iconic Greek Islands” itinerary starting May 1 on Celestyal Discovery and a seven-night cruise covering Greece, Italy, and Croatia from May 2 on Celestyal Journey. Following a temporary slowdown in bookings, the company is preparing targeted pricing and promotional initiatives to support demand during the peak season, with planning also extending into the autumn period.

Leadership Insights And Future Outlook

Lee Haslett, Chief Commercial Officer at Celestyal, said the return of the vessels has supported booking activity. He noted that weekly business volumes have increased, reflecting improving customer confidence. While short-term demand has been affected, the company expects conditions to stabilize, supported by financial resources and travel partner networks.

Coordinated Maritime Collaboration

Close coordination with other cruise operators defined the return journey, with planning carried out in advance to support a controlled and secure transit. Celestyal Journey participated in a convoy of international vessels, contributing to an organized passage through key maritime corridors. This coordinated approach enabled operators to manage risks collectively and maintain operational continuity during a period of heightened regional uncertainty.

Experienced captains and operational crews played a central role, ensuring alignment across vessels and strict adherence to safety protocols throughout the transit. With both ships now back in service and a revised commercial approach in place, Celestyal Cruises is positioned to continue its summer programme while adapting to current market conditions.

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