More than $70,000 worth of electrical wire has been stolen in just 14 days and is allegedly being sold on the streets of Bermuda.

Crime Stoppers Bermuda revealed that the wire, used in homes to link different circuits, had been stolen from three businesses on the Island.

They believe it is being sold to contractors "at substantially reduced rates".

The spokeswoman for the organisation, Joanne MacPhee, added that it was against the law to receive stolen goods.

The organisation is urging anyone who has been approached to buy rolls of wire, which is 12 THHN gauge wire, to contact them at 1-800-623-TIPS (8477). All calls are anonymous and cannot be traced.