Steven and Cameron Meneghetti, appearing at Melbourne Magistrates Court on Wednesday, have been charged with organising multiple funds transfers between March and July 2022, allegedly swindling hundreds of thousands of dollars.

The biggest scam allegedly took place on April 13, with the police alleging Steven Meneghetti, 29, orchestrated a transfer of $500,019, knowing the money was gained from crime.

The Victorian Financial Crime Squad has slapped Steven with 11 charges of financial crime, all accusing him of funds transfers of large sums of money.

The transfers range in value from $7132 to just more than $500,000.

Steven Meneghetti has also been charged with firearms offences and drug possession.

The police also allege his brother Cameron, 21, organised a funds transfer of $250,000 knowing the money was gained from crime on June 15, 2022.

He is also charged with transferring $40,019 on July 8.

The full details of the alleged scam have not been revealed.

The brothers have been granted bail and will next appear in court for a committal mention on November 21.

Australians lose billions each year to scammers.

The Australian Competition and Consumer Commission reports the country lost $3.1bn to scams in 2022, an 80 per cent increase on 2021.