Answer: Yes, it can.
According to Article 675(1) of Federal Law No. 50 of 2022 on Commercial Transactions, criminal liability arises if:
- A person issues a cheque on a closed account or after withdrawing/freezing the balance,
- The person was aware of this at the time of issuing the cheque,
- Intent is deemed established once it is recognized that the act prevents payment of the cheque.
The law expressly states that it does not matter whether the cheque was issued “as security” or for another purpose: a cheque is considered a payment instrument, and the law’s purpose is to protect its circulation as an equivalent of money.
This was confirmed in Criminal Appeal No. 1705 of 2024 (hearing dated 11 February 2025), where:
- The court of first instance and the appellate court acquitted the defendant, relying on a commercial court ruling ordering the return of the cheque and on the claim that it had been issued “as security”;
- However, the Supreme Court held that such arguments do not exclude criminal intent if the cheque was issued on a closed account;
- The decision was deemed e...