A Melbourne woman who had just celebrated her birthday in Bali has been identified as the victim who died in a horror boating accident that left another two Australians badly injured.

Anna Maree Blight was reportedly trapped for an extended period under the hull of the Sea Dragon 2 snorkelling boat that capsized on its way to Nusa Penida, a tiny island near Bali.

Blight had just turned 39 two days before she was killed, reports The Australian. She was on a celebratory trip with her friend Lisa Bell, who escaped the accident with bruising.

Two other Australians remain seriously ill in hospital, with fundraising campaigns underway to pay for evacuation flights.

Brisbane man Gabriel Hijniakoff and his partner Cintamani ‘Tam’ Warrington were on a “much-needed holiday” when they were badly burned in the tragedy.

“Both were left stranded on the boat for an extended period along other passengers and did not receive timely medical attention or transfers,” said family members.

The Sea Dragon 2 was on its way from a port in Bali to Nusa Penida when it was overwhelmed by high waves, Bali police spokesperson Agus Widiono said.

The group was looking at underwater scenery when their boat was hit by a large wave that threw Blight overboard.

It was followed by a second wave that capsized the boat in Kelingking waters, Widiono said.

A nearby boat was rushed to rescue survivors and found the body of Blight, the spokesperson said.

Blight was a registered trustee in bankruptcy for advisory firm Cor Cordis in Melbourne and had “an incredible future ahead”, the company said.

She was loved by her colleagues for her “generosity, integrity and unwavering support for her colleagues”.

Anna Blight worked in finance in Melbourne, but was from Canberra. Photo: Supplied

“From the moment she joined our firm, I had the privilege of watching her grow into the remarkable person she became,” chief executive Daniel Juratowitch to the Nine newspapers.

“Her passion, determination and kindness inspired everyone around her.

“She had an incredible future ahead, and her loss is deeply felt by all of us.”

Blight had last year become a registered trustee in bankruptcy, “a testament to her expertise and dedication in a field where fewer than 16 per cent of registered trustees are women”, Juratowitch said.

“She was passionate about promoting diversity within the profession and actively mentored other women to achieve their goals,” he said.

A GoFundMe fundraiser is seeking at least $28,000 for the “long recovery ahead” for the young couple from Brisbane.

“Tam’s injuries are particularly severe, as she has sustained extensive chemical burns/burns to a large portion of her body,” said the family.

“She is currently undergoing urgent surgery and is currently receiving medical treatment in Bali after a tireless fight from abroad.

“Unfortunately, she is unable to speak due to the pain and her condition remains critical.

“Gabriel, too, has sustained significant injuries and they were only able to begin medical treatment nearly 24 hours after the incident.”

Brisbane man Gabriel Hijniakoff and his partner Cintamani ‘Tam’ Warrington. Photo: Supplied

Family said the details of the incident were still to be confirmed.

“Media outlets and local reports have been INACCURATE and down played by initial reports through local authorities,” they said.

“Though what we do know is that Gabriel and Tam were involved in a serious accident, resulting in sustaining serious injuries, a road to recovery.

“To make matters worse, they lost crucial personal belongings, including their phones, passports, and wallets, making it even harder to arrange medical transfers and recovery efforts.

“Gabriel and Tam’s situation has become an emotional and financial burden, and the road ahead will be a long and challenging one.”

Four Australians were on board a snorkeling boat in Bali that capsized, killing one of them.

Maritime accidents have killed hundreds of people in Indonesia in recent years.

Boats are often overcrowded, and safety regulations are poorly enforced.

The vast archipelago country spans more than 17,000 islands with a population of 280 million, and boats are a popular and relatively cheap form of transportation.

-with AAP