- Interpol become aware of a counterfeit operation producing American money. The struggle to understand how the money could be spread across so many countries so quickly. As Duval gets closer to the truth a life and death situation develops.
- Forger Eddie Keflik, wanted by the authorities in America, finds a new base for his operation in Europe - selling a printing press to a travelling circus and then blackmailing one of the performers to print his counterfeit currency. Interpol are alerted when forged dollars start to appear across several countries, and Duval travels to Rome to investigate the latest occurrence - and a sighting of Keflik. Duval tries to buy dollars on the black market, hoping to tempt Keflik to come to him, and nearly succeeds - but when he is recognised he loses his coat, and Keflik - only to gain a new clue.
- On his final performance in America, Wiili the Clown (Warren Mitchell) is only too happy to buy a printing press from Eddie Keflik (John Crawford) at knockdown price, ideal for printing flyers and other publicity for the circus troupe he is in.
At Interpol headquarters in Paris, Inspectors Duval (Charles Korvin) and Mornay (Edwin Richfield) are being shown forged five dollar bills by forensic scientist Helene (Lisa Daniely), good quality copies that were detected in America but would likely pass without question in Europe. They were known to be the Keflik's work, Duval explaining that most of his gang had been caught in America but Keflik himself, with the printing plates, escaping and likely to restart in Europe.
In Hamburg, the next stop on the circus' tour, Keflik enters Willi's caravan to find him with the printing press in operation. Removing a panel on it, he takes out the plates for dollar bills and tells Willi they will be going into operation together. Willi intends going to the police, but Keflik points out it was him who had bought the ridiculously cheap - and obviously stolen - press, and him who had smuggled the plates into Europe, and ends by threatening Willi's daughter, Lisa (Waveney Lee).
Duval discusses the appearance of forged dollars with Helene: over the course of five weeks they had appeared in Hamburg, Berlin, Vienna, Zurich and finally Milan - Helene revealing that analysis showed the paper and ink to be from different sources in each case, suggesting Keflik wasn't operating from one fixed spot. Mornay then enters with the latest report of forgeries, from Rome, and news of a possible sighting of Keflik there. Duval leaves for Rome, to meet Captain Pagano (George Pastell); told that Keflik had been selling dollars in just small quantities at the airport, he decides to try and tempt him by posing as someone anxious to buy dollars on the black market.
Willi, already anxious for Lisa's welfare even before Keflik's arrival, is trying to arrange some formal schooling for her at a convent school in Rome; at a meeting with a nun (Jean Anderson) he is told they would be able to accept Lisa, and given a copy of their prospectus. Returning to their caravan, they find Keflik waiting for them; he sees the prospectus, and snatching it from Willi, warns him not to try and get Lisa out of harm's way, ending by telling Willi to get busy on the press - he has a customer.
Duval is contacted and given an appointment with Keflik; once there, he has no time to make a deal before his black market contact, waiting outside, learns that Duval has been seen with Pagano. He sends a man in to warn Keflik, but fearful there may be other police watching Keflik knocks Duval out, and exchanges hats and raincoats in order to get out and escape. Duval is left with a sore head - and Keflik's raincoat, in which he finds the school prospectus. Curious as to how it got there, he visits the school. Shown a photograph of Keflik, the Nun doesn't recognise him; asked about the prospectus, she says one had been given out only that day - to a circus clown, concerned for his daughter's education with travelling around so much. Duval realises the possible connection between the circus, touring Europe, and Keflik, and goes there with Captain Pagano.
Duval and Pagano find Lisa at the circus, the Ringmaster telling them that Willi is her father and where to find him, but Lisa runs to his caravan first and warns him of the police; Keflik hears this and takes them to the makeup tent, hiding behind a rack of costumes but with a gun on Lisa. Duval finds Willi's caravan and sees the printing press - and his hat, taken earlier by Keflik. When Duval finds Willi applying his makeup, he seems to be satisfied and moves to leave - but Willi has written a warning to Duval on a mirror, alerting him to Keflik's presence. Duval is able to snatch Lisa out of harm's way, and overpowers Keflik.
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