The image appears to show Sainsbury in handcuffs in front of 18 black bags which Colombian authorities allege contain cocaine.
Jorge Mendoza, Director of Ports and Airports of the Anti-narcotic police in Bogota claimed that authorities had received information that Sainsbury could "possibly be a drug mule".
"In going through security, we found that she had 18 packets inside her luggage, which even before opening it, we found it covered in plastic," he said.
"Let's keep in mind that of the countries in the world, Australia is the one with the highest per kilogram of cocaine. This cocaine that the traveler carried was possibly about 1 million US dollars."
Sainsbury's family has raised only a quarter of the money they hoped to collect for her legal bills.
An online fundraising campaign to help Australian woman Cassie Sainsbury fight drugs charges in Colombia has failed to reach its target of $15,000.
Just over 100 people pledged to donate $4,232 to the FundRazr account set up for Cassie Sainsbury, 22, after her family went public about how she faces 25 years in jail for allegedly carrying 5.8kg of cocaine in her luggage.
Her sister Khala Sainsbury set up the account on April 26, saying she wanted to raise money to cover legal bills in Colombia, where Cassie Sainsbury is behind bars in one of the South American country's most notorious prisons.
The number of donations doubled on Monday after her sister and mother gave media interviews claiming the 22-year-old Adelaide woman had been tricked into carrying cocaine hidden inside 18 packets of headphones she bought to give family and friends at her upcoming wedding.
This April 12, 2017 photo released by Colombia's National Police press shows Australian Cassandra Sainsbury in handcuffs after she was arrested (AAP) Source: AAP
Her fiance Scott Broadbridge hit back at the critics, saying those who don't know her shouldn't "be so negative".
"Unfortunately it's very easy for tourists to get targeted, especially in Colombia, " he wrote on the FundRazr page.
"Just be respectful, we're trying to get an innocent girl back home where she belongs."
Australian author Rusty Young, whose book Marching Powder was based on the three months he spent with an English drug smuggler in prison in Bolivia, has lived in Colombia for eight years and says he doesn't believe authorities there will make an example of Ms Sainsbury.
"Basically, the bigger traffickers are the ones they are after," he told the Seven Network.
"Small traffickers are just an annoyance for the country.
"Colombia loves foreigners coming in. One of their major industries now is tourism. They do not want the name. They don't want the media attention for drug trafficking."
Mr Young said conditions inside the El Buen Pastor prison where Ms Sainsbury is being held were "pretty horrific".
"There is massive levels of overcrowding inside the prison," he said.
"The conditions are not very hygienic. She will need money to survive, to get legal representation, to buy medicine - and she potentially could be facing a long stay in prison."
Ms Sainsbury was arrested at El Dorado International Airport in Bogota on April 12 when she attempted to fly home to Australia.
Her family claims she was set up by a man she befriended after arriving in Colombia on April 3 for a working holiday and who helped her as a translator.
She faces 18 to 25 years in jail if found guilty of drug trafficking charges.
The Department of Foreign Affairs and Trade says it is providing assistance to an Australian woman arrested in Colombia, but offered no further details due to privacy.
