TAIPEI (Taiwan News) — Taiwan police are ramping up efforts to crack down on fraud and forgery as posts peddling counterfeit bills sprout up on social media.

Recently, a Facebook post wooing the cash-strapped has appeared on the platform's group forums. The post is accompanied by photos of NT$1,000 (US$32.50) banknotes.

Shared by different handles, the post reads, “99%-authentic Taiwan New Dollar banknotes available. Get banknotes worth NT$45,000 at a price of NT$3,000.” It stresses that the notes can deceive currency validators and ATMs, and leaves information on a LINE contact.

The Taipei City Police Department said it has received reports of the post and an investigation is underway. It added the scheme could be a scam to swindle money out of potential criminals and those who have paid may receive play money or ghost money, wrote Liberty Times.

Fake U.S. dollar or New Taiwan Dollar bills often circulate at the time of the year, as when Lunar New Year approaches, the demand for cash rises.