The English-language title of this Swedish romance is Under a False Flag. Tutta Rolf stars as Margot, the spoiled-rotten daughter of banker Karl Hammar (Ernest Eklund). Accustomed to getting what she wants, Margot falls in love with a poor bank clerk (Allan Bolin) who does not reciprocate her feelings. To win him over, she pretends to be poor herself -- and finds that she rather likes not being pampered for a change. Undre Fals Flagg was also released as Under False Colors, which under the circumstances makes more sense.
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