Terrifying security footage has captured the moment a motorbike-riding thief stole $17,000 worth of jewellery from an Australian tourist’s neck in Bali.

It is believed the 68-year-old man and his wife were walking through Werkudara Street in Legian just before 9pm on August 22.

The video shows a motorbike rider rounding the corner behind the pair in the seemingly quiet street.

WATCH THE FOOTAGE IN THE VIDEO PLAYER ABOVE

The rider slows his vehicle as he approaches, leaning over and snatching two gold chain from the man’s neck before taking off.

The man attempts to run after the motorbike but with no avail — it has already rounded the corner and disappeared.

The gold necklaces, which weighed 25 grams and 50 grams respectively, are worth over $17,000 according to the Australian man.

Denpasar Police spokesperson Captain I Gede Adi Saputra Jaya district police are investigating the incident and are scouring the area to locate the robber.

“Our investigative team has examined the CCTV footage showing the suspected perpertrator and is currently sweeping the area to retrieve additional footage,” he told The Bali Times.

Australian travel influencer See it with Samantha says Bali is seeing a “really bad” spate of jewellery and phone snatching in a recent video, warning tourists who are planning to come to the popular tourist island.

“A lot of it is actually not locals. It’s people that have come over that are committing these crimes,” she claimed.

“I know two people personally that have had their necklaces pulled off.

“It’s such a shame that this is happening, it’s just something to think about and be wary of.”