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The men were captured on video withdrawing money on several occasions from two teller machines in Burwood and one at Bankstown.

More than 100 people who used ATMs or EFTPOS machines in the Illawarra's northern suburbs reported thefts from their bank accounts to police late last year.

Police released this CCTV footage

Many more victims are thought to have reported fraudulent transactions to their banks only.

The amount stolen is thought to be in the hundreds of thousands of dollars.

Strike Force Doon was established to investigate the fraud, and detectives today revealed that one or more skimming devices had been attached to automatic teller machines in the northern Wollongong area.

A card skimming device illegally copies information from the magnetic strip of a credit or debit card.

Once the card has been skimmed, a fake card with the victim's details is created to carry out fraudulent transactions.

Detectives allegedly discovered large amounts of money had been stolen from accounts accessed at other ATMs in Bankstown, Parramatta, Burwood, Chinatown and Haymarket in Sydney.

Financial institutions and the State Crime Command's Fraud Squad has been advised about the scam.