At a news conference west of Toronto, Halton Regional Police Detective Bob Lester said since July 2011, the pair has been recorded using a cutting torch to get into automated banking machines throughout Southern Ontario and Quebec, the Toronto Sun reported.
The men are also suspected in 12 break-ins west of Toronto.
Lester said the men wear masks and gloves and so far have left no evidence behind at any of the thefts. He said they average less than a minute to cut into the cash machines and flee.
Security video shows the thieves driving various vans and sports utility vehicles and Lester said that suggests the thieves are using rental vehicles.
The detective said it's hoped the pair will eventually slip up based on the bravado that comes with success.
"With the amount of incidents they've been involved in, they're obviously greedy," Lester said.