A 21-year-old Sydney woman has been arrested while trying to leave the country after almost $5 million was wrongly transferred into her bank account, police say.

The woman was allegedly preparing to board a flight to Malaysia when Australian Federal Police (AFP) officers arrested her just before 8:30pm on Wednesday.

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According to police, $4.6 million was wrongly transferred into her bank account in 2012.

The woman, from Rhodes in Sydney’s inner west, was charged with dishonestly obtaining financial advantage by deception and knowingly dealing with the proceeds of crime.

A warrant was issued for her arrest in March.

She was refused bail to appear at Waverley Local Court.