NSW Police have reportedly established a taskforce to investigate deals as part of Parramatta's NRL salary cap scandal.
Fraud squad detectives will look into a range of potentially serious crimes including money laundering and fraud.
No players are understood to be under investigation, according to News Corp.
"Investigators are in possession of a large quantity of financial documents which will undergo detailed forensic accounting analysis," a police spokeswoman said.
The squad is said to be most interested in the use of club money to make under-the-table third-party payments to players.
Tampering of key documents, including invoices and other financial records, will also be investigated after the NRL began its forensic investigation into the club.