Police say the defendants made repeated trips to New York City, Cicero and Rochester to install the devices on a number of cash machines.
Investigators allege that the group visited one bank in Cicero on at least five occasions in November, resulting in the theft of around $40,000.
The majority of the money stolen by the men, who are all from Romania, was wired to eastern Europe.
Technology news site Gizmodo states that if convicted, the men face up to 15 years in federal prison.
In related news, police in New York are on the hunt for another ATM skimming gang, this time believed to have stolen around $500,000 from branches of Sovereign Bank, the New York Daily News reports.
"This crew is sophisticated," deputy inspector Gregory Antonsen of the NYPD special investigations division told the newspaper.
"And they are coming up with new ways to steal your identity every day."