Financial Crime World

Types of Financial Fraud in Mongolia

Mongolia is often referred to as one of the least crime-ridden countries to visit, making it an attractive destination for travelers seeking adventure and excitement. However, petty crimes and scams are still prevalent, emphasizing the importance of being aware of surroundings and taking necessary precautions.

Common Types of Financial Fraud

One of the most common types of financial fraud in Mongolia is theft, particularly in crowded areas such as markets, tourist landmarks, and public transportation hubs. Thieves often target unsuspecting visitors, snatching purses or wallets and leaving victims with nothing but a pile of worthless trash.

Racism and Xenophobia

Racism and xenophobia are also growing concerns in Mongolia, with ultra-nationalist groups targeting individuals with Caucasian, African, or Chinese features. Visitors are advised to be cautious when interacting with locals, particularly women, and avoid engaging in confrontational behavior that may escalate tensions.

Areas of Extra Vigilance

In Ulaanbaatar, specific areas require extra vigilance, including:

  • Chinggis Khaan International Airport
  • State Department Store
  • Naran Tuul Covered Market
  • Central Post Office
  • Gandan Monastery
  • Tedy Center IT Market
  • Emart Supermarket

Organized criminal groups operate freely in these areas, making it essential to keep valuables secure.

Common Scams

Tourists are cautioned against falling prey to common scams, including:

  • Dodgy taxis
  • Aggressive panhandling by local children
  • Fake travel insurance schemes at border crossings

Precautions to Take

To avoid financial fraud and other types of crime in Mongolia, visitors should take the following precautions:

  • Keep valuables secure and out of sight
  • Use official taxis with fare meters
  • Avoid interacting with aggressive panhandlers
  • Be cautious when crossing borders and ignore offers of fake travel insurance
  • Use reputable touring agencies for off-the-beaten-path adventures

By being aware of these potential pitfalls, tourists can minimize their risk of falling victim to financial fraud and enjoy a safe and memorable trip to Mongolia.