Flying Squad officers Detective Inspector Jack Regan (Ray Winstone) and Detective Constable George Carter (Ben Drew) arrive at the scene of a warehouse robbery; four armed men are attempting to steal gold bars. After Regan and Carter capture the robbers, Regan takes some of the gold bars to give to his informant Harry (Alan Ford). Detective Chief Inspector Ivan Lewis (Steven Mackintosh) from Internal Affairs starts to scrutinise Regan’s activities – he is not aware that Regan is having an affair with his estranged wife, Flying Squad officer Nancy Lewis (Hayley Atwell).
Regan receives information about a planned robbery on a private bank, but he has to cease surveillance when an armed robbery at an insignificant jewellers places £200,000 of jewellery in the hands of a dangerous criminal, and one civilian dead. Regan suspects that his long-time adversary Francis Allen (Paul Anderson) is responsible, but cannot contradict Allen’s alibi that he was out of the country. After evidence links violent Serbian criminal Makin Trebolt (Kevin Michaels) to the crime Regan is forced to release Allen.