Virginia "Gin" Baker (Zeta-Jones) is an investigator who works for a top insurance agency. Robert "Mac" MacDougal (Connery) is an international art thief who likes a challenge. A priceless Rembrandt is stolen from an office one night: Gin suspects that Mac is the thief, so she is sent to investigate him. She tries to entrap him with a proposition, claiming that she is an art thief. She promises she will help him steal a priceless Chinese mask from a well guarded palace. They travel to Scotland, and plan the complicated theft at Mac's hideout, an isolated castle on a small island. While Mac is busy making final preparations, Gin contacts her boss, Hector Cruz (Patton), and informs him of Mac's whereabouts. Little does she know that the island is bugged, allowing Mac to eavesdrop on their conversation.
Just after they complete it, Mac accuses Gin of planning to sell the mask to a buyer in Kuala Lumpur, and then turn him in. Gin convinces him that her insurance agency job was a cover, and that she has planned an even bigger job in Kuala Lumpur: $8 billion from the International Clearance Bank, in the Petronas Towers. They manage to pull the job off, but Cruz warns the building's security about their plans. Realizing the crooks are in one of the elevators, the guards shut it down. Nevertheless, Gin and Mac escape, via hanging Christmas lights and ventilation shafts. Since Gin lost her parachute in the escape, Mac gives her his. He tells her to meet him the next morning at the Pudu train station at 6:30 AM. The next morning, Gin arrives at the station waiting for Mac. Minutes later from the planned time, he shows up with Cruz and the FBI. Mac nearly hands Gin to the FBI, knowing that she was a master thief herself. He explains that the FBI had been looking for her for quite some time. When he was caught, Mac made a deal with the agency to help them arrest Gin. Still, the aging thief has another plan to let her go, as he is getting old and she has got her life ahead of her. Gin persuades Mac to come with her. She holds Mac hostage threatening to shoot him if the agents follow her. However, she tricks them and boards a train, leaving them behind. As the FBI agents walk away, another train arrives, and Gin suddenly appears. She tells Mac that she still needs him for another job. The two thieves kiss as the film ends.