Catherine Zeta-Jones plays Virginia Baker, who works for an insurance company. Their clients are reporting an alarming number of robberies of major artworks. Gin convinces the company that she can cozy up to the thief and then turn him over to the authorities. They agree to allow her to try. Sean Connery is Robert MacDougal, or Mac. Mac takes Gin on in a temporary capacity just to see if she can do what she says she can do. Together they train in order to steal a mask from a British museum. The heist goes off without a hitch, but Mac still doesn't trust Gin. To gain his trust, she tells him of a heist she's been working on in her insurance office for five years. Mac agrees to travel with Gin to Kuala Lumpur to accomplish the robbery of some eight billion dollars.
While in Kuala Lumpur, Gin takes some of her stolen artwork to a fence named Conrad Greene, played by Maury Chaykin. An argument ensues regarding the authenticity of the piece, which convinces Gin that Mac has been testing her. She escapes Greene and throws the ruse up into Mac's face. The two talk their way onto common ground, following which they can pull off the robbery of the century. The money will be transferred on the stroke of midnight on December 31, 1999, when the bank switches over to the Y2K programming.
The scene is set for Millennium Night with parades, dancing in the street, fireworks and other accoutrements of celebration. Gin and Mac are dressed to the nines, the better to fit in, as they celebrate their way into the bank. A harrowing journey then begins as they dance around laser beams and insert the CD Gin has been working on, and the transfer takes place. Just as Gin pulls the plug after the transfer, the alarms go off. The two make an edge-of-the-seat getaway.