Victoria's major racing body says it will continue working with the Australian Crime Commission (ACC) to investigate reports the industry has been infiltrated by an Asian gang.

News Ltd says a suspected senior figure within a Hong Kong triad has been investing heavily in thoroughbred racing in Australia.

Racing Victoria (RV) says it has been aware of the allegations for some time and has been working with the state's Racing Integrity Commissioner Sal Perna and the ACC.

But RV chief executive Bernard Saundry says it is too early to draw any conclusions about organised crime within the industry.

"At this point in time there is absolutely no implication of any wrongdoing in racing," Saundry said.

"Our role has been to pass on the intelligence we have gained to the appropriate federal authority and allow them to do their job in investigating such matters."

He said Racing Victoria would continue to work with the ACC and the Integrity Commissioner as they carry out their investigations.

"The community expects racing to be run on a level playing field and RV has already implemented a number of strategies to enhance drug detection, strengthen the rules and monitor betting transactions," Saundry said.

Perna told radio RSN that as soon as allegations of a crime link surfaced, they were referred to the national intelligence agency.

"As soon as the information mentioned international links and mentioned organised crime, then clearly it had to be referred to the ACC," Perna said.

He said any investigation would look at the people alleged to be involved, their businesses, any money trail and to see if it is coming from overseas or locally for the purpose of money laundering.

"There are so many questions to answer," Perna said.

"But there is no suggestion about race fixing - it's about a business transaction and whether that transaction has got any relation to the racing industry."