Attempts to use counterfeit bills of Mongolian currency in transactions have been reported lately around Mongolia`s traditional holiday Tsagaan sar. It has been revealed that a transaction was recently made with a large amount of counterfeit notes with value of 5,000 Mongolian tugrug.

A 20,000 tugrug counterfeit note was also found during a transaction attempt. The Criminal Police Department and Financial Regulatory Commission of Mongolia have created a task force to investigate where the counterfeit bills are being made. Police have warned civilians to be cautious dealing with money during the shopping boom during the holiday period.

Apparently larger denomination currency notes are usually counterfeited. Officials say that counterfeit bills are easily recognized by seeing and touching them. The high encryptions of currency bills are not usually copied by counterfeiters.