- Interpol are investigating currency fraud in the Netherlands. What starts as an open and shut case, quickly takes unexpected twists when it is realized one of the chief suspects has been dead for 15 years
- Author Andrew Slater, researching the capture of a British agent and his Dutch contact in wartime Holland, is killed in Amsterdam. Duval wonders whether the disappearance of money intended for the resistance could provide a motive for murder 16 years later. The possible exposure of a story of wartime betrayal endangers the life of the only person who can identify a traitor - a supposedly dead man's sister.
- In Amsterdam, British author Andrew Slater (Edward Jewesbury) meets Emmy van Meer (Leigh Madison) beneath a memorial plaque to her brother Onno and a British officer, Peter Grenville, shot during the German occupation. Slater is researching Grenville's work with the resistance, and is given a photo of Onno and a memento from Grenville's last mission, a signed 100 Guilder note from money destined for the Dutch resistance. Emmy, an air stewardess, has to leave while Slater remains - being followed by a very much alive Onno van Meer (Kevin Stoney).
At Interpol headquarters in Paris, Inspector Duval (Charles Korvin) learns of the request from the Dutch police for information on Slater, found stabbed to death in the street. Inspector Mornay (Edwin Richfield), who is familiar with Slater's previous work uncovering wartime secrets, points out that his research and notes were also missing, and Duval wonders what might be in them worth stealing.
Onno van Meer, now calling himself van Schracht, returns to his office and finds his German business partner, Esler (Victor Beaumont), waiting for him. He has come, he says, to find out if their "more vital" business has been dealt with. Van Schracht, pointing out the risks of them being seen together, tells them that it has, and shows him Slater's notes - including the old photograph of himself. Esler wonders where it had come from; told Emmy must have kept it, he says "I've warned you before. That girl is a danger to us" before leaving to return to Bonn.
Duval learns from London that Grenville's last mission had been to deliver 300,000 Guilders to the Dutch resistance, money that was never found. He telephones Captain Decker (Bruno Barnabe) of the Dutch police to tell them of Slater's work, and is told that among Slater's effects was a 100 Guilder note - of old, wartime issue. Duval flies to Amsterdam and is met by Decker, who tells him of their latest information on Slater's final movements - his meeting with Emmy, who had given Slater the note and a photograph of her brother - the latter not found on Slater.
Duval and Decker are told that the remainder to the money may be traceable, not to an individual but at least to a particular bank branch, due to a recall of wartime currency in late 1945. News then arrives that Slater was found to have visited a Gerhard Esler in Germany - the officer who had van Meer and Grenville shot. Duval travels to Germany to see him, and while Esler - van Schracht's partner in a shipping agency - admits his wartime role he angrily denies any knowledge of the missing money. After Duval has left, Esler telephones van Schracht to tell him that from Slater's papers he knows of the 100 Guilder note - which van Schracht realises he didn't find. Esler repeats his warning that Emmy is a risk, but promises not to do anything himself. However after hanging up he takes a pistol from his desk, and is next seen waiting outside Amsterdam airport for Emmy to leave, following her crew bus by car.
Back in Amsterdam, Duval's suspicions of Esler and the missing money are strengthened when it emerges that the Dutch office of his firm was among the few making large cash deposits in 1945. Van Schracht arrives at his office and is told of the apparently routine enquiry by the bank into his past accounts; realising the significance, he tries to reach Esler and when told he is in Amsterdam guesses he must be after Emmy, and leaves. Duval and Decker arrive soon after and are told of van Schracht's attempt to contact Esler and sudden departure. Duval thinks Esler and van Schracht are starting to get alarmed: looking through van Schracht's desk he finds Slater's passport and the old photograph of Onno van Meer. "But that is Mr. van Schracht" insists his secretary on seeing the picture: van Meer's wartime collaboration, the secret uncovered by Slater, becomes clear. They leave anxious to get to Emmy van Meer.
Esler has followed Emmy van Meer to her house, and enters behind her whereupon she recognises him from the events of 15 years earlier. He demands the 100 Guilder note, and intends to force her down to the canal where she will be found - the apparent suicide of the chief suspect for murder in "a family affair." She doesn't understand, and he tells her that her brother has in fact been alive, and his partner, all this time. Onno then arrives, and Emmy realises his betrayal, but he stands in front of her to try and shield her. Esler shoots him, and intends to kill Emmy, but hearing the police arrive outside he leaves by a side door. Decker has an alert put out for Esler, and he is found heading for the docks on a barge belonging to his company.
Later, Duval meets Emmy to return the photograph to her, but she refuses. He tells her that while official records will contain the full story, "To everybody else, the man who died here will be known as van Schracht." She is grateful, but quietly removes the flowers from her brother's memorial and takes one last look at them before allowing them to fall to the ground.
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