A Sydney postman has been charged with the alleged mail theft of bank cards and other items in Sydney's east, resulting in $1.4 million worth of fraud.

Police from the Financial Crimes Squad will allege the 56-year-old postman supplied the stolen bank cards to two separate criminal syndicates.

The postman allegedly stole items from 70 letters or packages in Edgecliff, Woollahra and Double Bay in the city's east, with police and Australia Post last November launching a joint investigation.

Strike Force Detectives on Wednesday with help from NSW Police's organised crime squad Raptor executed five search warrants in Rockdale in Sydney's south and Roselands in the city's south west.

"During the warrants, police allegedly located and seized more than $14,000 in cash, a Dedicated Encrypted C

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