Thieves have stolen two Poppy Appeal collection tins just days before the Remembrance Sunday services which will honour the town's war dead.
They were taken from Boots the Chemist in Wood Street, Old Town, and the HSBC Bank in Regent Street on Tuesday and Wednesday.
The thefts have been condemned by the police and Swindon's Royal British Legion which organises the collections.
So far £7,500 has been raised from stalls held by Legion members, and Poppy Appeal organiser Alan Baker believes the target of £25,000 will be met once all the collecting tins are returned.
But he is appalled at the thefts, which he describes as taking money away from those who really deserve it. "Any crime is bad enough but what sort of person can take money from people who fought for the democracy we have today?" he said.
"A lot of hard work goes into this appeal and words fail me."
Susan Hoskins, manager of Boots in Wood Street, said she was amazed when she realised the branch's collecting tin had been stolen.
"It is dreadful. We had had it out for about a week and it was very heavy. We have got another small tub as a replacement now but we are having to keep it behind the counter," she said.
Swindon police spokeswoman Alvina Kumar did not rule out a possible link between the thefts.
She said: "These thefts are despicable and I cannot understand the mentality of anyone who can steal cash intended for a very worthwhile charitable cause."
The theft at Boots took place between 2.30pm on Tuesday and 10am on Wednesday, while the tin at HSBC was taken between 11.30am and 12.30pm on Wednesday. Police believe a white man, aged between 18 and 19 and around 5ft 6ins, was responsible for the second theft. He had short dark hair, was wearing a beige jacket and was accompanied by a woman.
Anyone with information is asked to contact Swindon Police on 01793 528111.
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