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Police are warning people to be vigilant after reports that a gang fitted "cash traps" to ATMs across Yorkshire.
Three men have been arrested in Manchester and London in connection with the investigation.
West Yorkshire Police said offences have been reported across England, Scotland and Wales, "but the majority have been in the Yorkshire and Humber region".
The force said the discreet cash traps have been attached to ATMs so that when a victim makes a withdrawal, their account is debited but the money does not appear to be dispensed from the machine.
Instead, the money is trapped in the concealed device which the offenders later recover, police said.
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Detective Sergeant Sam Harding, of the Yorkshire and Humber Regional Organised Crime Unit, said: "We are urging members of the public to be vigilant when using cash machines given these recent offences.
"Before making a withdrawal, people should check the machine for any unusual attachments, loose fittings or signs that it may have been tampered with.
"If cash does not dispense but your account is debited, report the matter to your bank immediately and contact Report Fraud or your local police force.
"We are continuing to work with our partner in the banking industry to deter and detect this type of offending while taking a proactive approach to targeting the criminal gangs behind it."
West Yorkshire Police said three men, aged 30, 34, and 46, were arrested on suspicion of conspiracy to steal and possession of articles intended to commit fraud in connection with the investigation. Two men have been released on bail while inquiries continue, and a third was remanded in custody after being found to be unlawfully present in the UK in breach of a previous deportation order, the force said.