Two bank employees have been charged with defrauding $2.4 million from a customer.

NSW Police allege that the two employees, a 31-year-old woman and a 29-year-old man, were involved in a several fraudulent transactions while employed at a bank between December 2015 and January 2016.

The woman is alleged to have accessed a customer's account, withdrawing $150,000 and transferring a further $2.25 million into a separate bank account, in September 2015.

Eight days later, $2.25 million was transferred to an international business account.

Later in September 2015, a third transfer of $2.24 million was made from the business account into an account belonging to a relative of the 29-year-old man.

Police allege the man spent the money on items valued at over $500,000, while another $1.4 million was transferred into his bank account.

Meanwhile, the 31-year-old woman allegedly made $750,000 worth of transfers into her own bank account.

Officers from Sydney City Police Area Command found out about the suspected fraud in March this year, and established Strike Force Chipalee to investigate.

Police arrested a 29-year-old man at Sydney International Airport on Thursday 31, October 2019. He remains before the courts.

The 31-year-old woman attended Day Street Police Station this week, where she was arrested as part of the fraud investigation and charged with knowingly dealing with proceeds of crime, dishonestly obtaining financial advantage by deception and larceny as clerk.

She was granted strict conditional bail to appear at Downing Centre Local Court on Wednesday 22, January 2020.