Two Sydney men have been charged with defrauding the NSW compulsory third party (CTP) insurance scheme of more than $1.7 million.

The arrests are part of a crackdown on crime syndicates targeting the scheme.

On April 30 detectives from Strike Force Ravens charged a 31-year-old with fraud and granted him conditional bail to appear in court on May 29.

He is alleged to have submitted a fraudulent CTP claim for $120,000, relating to a crash on Atkinson Street in Liverpool on May 30 2015.

Further inquires led police to arrest a 35-year-old last Tuesday and charge him with 17 offences relating to allegedly staged crashes in Liverpool on May 6 2015 and May 30 2015.

He was refused bail and will appear at Liverpool Local Court on May 3.

Strike Force Raven investigators have so far arrested five people and laid 69 charges in relation to a combined alleged fraud of $6.2 million.

The State Insurance Regulatory Authority is co-ordinating a CTP fraud taskforce involving representatives from government agencies and legal, health and insurance bodies.