Plot
Lawrence Jamieson is a cultivated and suave British con artist who operates in the deluxe hotels along the French Riviera with the help of his manservant Arthur and corrupt local police officer Andre. His signature con is seducing wealthy and morally suspect women and stealing their money. His only concern is a mysterious, anonymous con man known only as "The Jackal" who has been preying on other wealthy victims of late.
When small-time American hustler Freddy Benson decides to search for easy marks in Beaumont-sur-Mer, Lawrence's home base, Lawrence believes that the Jackal has shown his face. Worried that Freddy's clumsy antics will scare away his prey, Lawrence has Freddy arrested and put on the next plane out of town. However, Freddy meets one of Lawrence's former marks and deduces that the older man is also a crook. Returning to Beaumont-sur-Mer, Freddy forces Lawrence to take him on as a pupil in exchange for his silence. Lawrence attempts to teach the boorish Freddy about high culture with limited success. He also involves him as a subordinate player in his cons, making him play the mentally challenged and socially inept Ruprecht in order to scare away their female targets after their money has been acquired. Freddy, tired of not getting paid and tired of the humiliating part he has to play, decides to strike out on his own.
Since Lawrence believes that there is not enough room in Beaumont-sur-Mer for both of them, the two agree to a bet in order to decide who stays. The first one to con $50,000 out of a selected mark will be allowed to stay, while the other must leave and never return to Beaumont-sur-Mer. The two select Janet Colgate, a naive and wealthy American heiress, as their target and embark on their separate strategies while at the same time ruthlessly sabotaging each other. Freddy poses as a psychosomatically crippled soldier who needs to borrow $50,000 for treatment by a celebrated Liechtenstein psychiatrist, Dr. Emile Shauffhausen. But when Lawrence discovers this scheme he pretends to be Dr. Shauffhausen, insisting Freddy's condition is one he can cure with the stipulation that Janet pay the $50,000 fee directly to him.
Lawrence discovers that Janet is not wealthy after all but on vacation as a contest winner and that she intends to liquidate most of her assets to pay for Freddy's treatment. Impressed and emotionally touched by Janet's innate goodness, Lawrence calls off the bet, noting that his previous victims have all been wealthy and corrupt. Freddy suggests they change the challenge and make Janet herself the bet, with the first to bed her declared the winner. Lawrence refuses to try to "win," agreeing only to bet that Freddy will fail to do so.
Lawrence tries to convince Janet that she must ignore her growing attraction for Freddy as part of his therapy and manages to keep her from having any time alone with him in which they might consummate a relationship. With the help of some British sailors, Freddy waylays Lawrence, and rushes to Janet's hotel room where he demonstrates his love by walking to her. However, Janet is not alone. Lawrence is present and declares Freddy cured of his ailment. Ushering Freddy out of the room he explains that the sailors released him after discovering that he is a Royal Navy reserve officer. The sailors, angry at being duped by Freddy, keep him occupied while Lawrence puts Janet on a plane to America.
The next day however, Janet does not board her flight. She instead returns to her hotel room to find a remorseful Freddy there. They kiss, close the door and begin to undress. The news reaches Lawrence as he swims, and he accepts his defeat with grace. He is later seen struggling to retain composure as he waits for Freddy to return and gloat over his victory. Instead, Janet arrives in tears. She tells him that Freddy has stolen the money her father sent. Lawrence compensates her with $50,000 of his own and takes her to the airport. At the last minute before she boards the plane, Janet tells Lawrence that she cannot take the money and gives the bag back to him. As the plane leaves, the police arrive with Freddy who claims that Janet robbed the both of them. Puzzled, Lawrence finally opens up the bag and finds a note from Janet instead admitting that she indeed took the $50,000 and that she was The Jackal all along. Freddy is angry while Lawrence is charmed by the Jackal's skill.
Freddy and Lawrence assess their loss. They are about to part company when the Jackal, in a new disguise as a loud New York real estate developer, arrives at Lawrence's villa with a yacht filled with wealthy people. She promptly has Lawrence and Freddy assume roles in her scheme and while the guests refresh themselves, she takes them aside and announces that while she has made a fortune, she had the most fun with them. Joining arms, they set out to fleece their latest victims.
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