Portales police are investigating a counterfeit money ring in the area.
The Portales News-Tribune reports that Police Chief C. Douglas Jones is calling it a serious problem.
Authorities say they have received 16 reports of counterfeit money being received by cashiers at businesses over the past three weeks.
Jones says investigators have recovered counterfeit $100, $50, $20 and $10 bills. He says all the bills have identical serial numbers and lack security strips.
Lt. Pat Gallegos says the suspects are mostly attempting to buy inexpensive items hoping to receive authentic cash as change.
Authorities are urging cashiers to examine bills closely for security features.
Information from: Portales News-Tribune.
Copyright 2013 The Associated Press.