Error: File "x.avi" cannot be opened (86::1)

I've started using a new camera to record some footage and it saves videos in an .avi format with the H.264 codec.

Everytime I try to import footage from the camera I get an error message saying 'After Effects error: File "X.avi" cannot be opened, it may be in an unsupported format ( 86::1 ).

I use After Effects CC and this problem has never occured before. I have tried videos with both 1920x1080 and 1280x720 resolutions and the error still comes up. Converting the footage to another format works but slightly lowers the frame rate and sometimes messes up audio.

Please Help