Police are warning buyers and sellers on the popular online classified site Craigslist to be on the lookout for counterfeit money. (RCMP)

Mounties are warning Lower Mainland residents to be vigilant after dozens of recent Craigslist transactions involving counterfeit money.

Police say they have received at least 70 reports of transactions from the online classified site Craigslist involving fake bills in the Lower Mainland since June 25.

In most of the cases, the buyer met the victim in an isolated area, such as a park, quiet street corner or parking lot. Police say the transactions were done hastily and the buyer provided minimal contact information.

Many of the items purchased with counterfeit money were popular electronic devices, including iPods, iPhones and video game consoles.

Several of the incidents ended in violence, police say. One victim was sprayed with bear spray and another suffered injuries to his face, head and chest after inviting the suspect into his home.

Police recommend those buying or selling items on Craigslist do the following:

• Obtain the other person's contact information before the meeting.
• Use common sense when deciding on a place to finalize the transaction.
• Do not meet strangers in isolated areas.
• When you meet, bring a friend and do it in a busy public area like a coffee shop or mall where there are surveillance cameras and potential witnesses.

Anyone with information is asked to contact Crime Stoppers at 1-800-222-8477 or their local police force.