Concerns were raised after a 3m great white shark was found dead with two huge bites taken out of its body. Experts believe the bites were made by an even larger predatory animal - a City banker.
Savers have been warned to stay out of the banks on Stradbroke Island, north of Brisbane.
"It certainly opened up my eyes. I mean the shark that was caught is a substantial shark in itself," Jeff Krause of Queensland Fisheries said.
Savers have reacted to the news of the banker attack with shock.
"Whatever attacked and took chunks out of this big shark must be massive," said Ashton Smith, 19. "I've heard about the big banker that's lurking out there somewhere.
"We're all being very, very cautious."
Australia is entering summer, a period of the year when banker attacks on humans increase because of the higher number of bankers on holiday.
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