North Korea is suspected of restarting its counterfeit currency business after an agent from the secretive nation was arrested over the discovery of fake $100 bills paid in to Chinese banks.

The agent was held in Dandong, a city in eastern China bordering North Korea, amid claims he had exchanged $5million into Chinese currency before depositing the cash.

Fake notes were detected counting machines at the banks before the unnamed man was arrested and his accounts frozen, it has been reported.

The Telegraph reports South Korean newspaper JoongAng as saying the man admitted being part of the North's dictatorship under Kim Jong-UN.

A source reportedly said that the man had confessed to spying in the South.

The cash was due to have been spent on luxury house hold items - much sought after in the impoverished North - before being handed out by the dictator to some of his key backers.

To read the complete article, see:
Is North Korea back in the counterfeit currency business? Pyongyang agent is arrested after swapping fake $100 bills for Chinese money (www.dailymail.co.uk/news/article-3663715/Is-North-Korea-counterfeit-currency-business-Pyongyang-agent-arrested-swapping-fake-100-bills-Chinese-money.html)