The incident happened in the Diamond area of the Rathcoole estate in Newtownabbey, Co Antrim at around noon last Saturday.
Detective Inspector Chris Millar said: “Shortly after 12:05pm, it was reported that a female was approached by two males in the area.
“It is believed that the males took a black sports bag containing a sum of money during the incident. The female was not injured but left badly shaken.
“One of the males is described as 5ft 10, of slim build and wearing a grey/black hooded top.
“The other man is described as 5ft 8, of stocky build with grey, balding hair. Both men are believed to be aged in their 50s.”
DI Millar said that enquiries into the incident are continuing and he appealed for anyone with information to contact detectives at Newtownabbey CID on the non-emergency 101 number.