The film begins with Martin (Redford) and his friend "Cosmo" (Kingsley) in college, hacking into various agencies' computer systems and diverting money to other accounts. Martin narrowly escapes a raid on their apartment and flees to Canada, while Cosmo goes down. Decades later, Martin (under an assumed name) leads a team of private investigators and is hired by government agents to steal a "code-breaking" box from a Bay Area scientist. But the Feds aren't real... and the box finds its way into the hands of none other than Martin's former partner in crime.
All in all, it works because the math and the technology are believable, especially for the early '90s. The characters are all terrific and among the most realistic seen in "high-tech" thrillers of this nature, while also adding a certain light-hearted feel at times. The eerie feel is also realistic, with the Cold War having just ended and great uncertainly lingering as to the world political landscape. A good soundtrack, well-chosen locations and great writing make this film solid and very much underrated.