The International Cricket Council will be looking into match-fixing claims made by the Sunday Times which include the India-Pakistan World Cup semi-final last year.
Claims have also been made that New Zealanders, unnamed, may have been involved but New Zealand Cricket has responded with a statement.
New Zealand Cricket's chief executive David White said: "We have complete confidence that the claims made are baseless and have no credibility.
"The sources are not credible and the accusations are unsubstantiated making them irresponsible, damaging and untrue.
"The integrity and reputation of the game is paramount and NZC have absolute confidence that our players share these ideals.
"We have been in contact with the ICC anti-corruption unit and this is now a matter for them to follow up on."
For that reason NZC said it would not comment further.
The newspaper said that its investigation revealed rampant match-fixing that involves rewarding players and officials who could guarantee the outcome of matches.
The newspaper also went on to say that a Bollywood actress was used as a bait in luring the cricketer and officials and match-fixing is also present on the English county circuit because the tournaments are not monitored as thoroughly as the international games.
The newspaper has also mentioned that the World Cup semi-final between India and Pakistan as being affected by match-fixing.
The newspaper has passed on all the information to ICC, which issued a statement on Sunday.
"We are grateful for the information you have provided and will launch an inquiry into these serious allegations.
"Betting on cricket in the legal and illegal markets continues to grow rapidly and, with many, many millions of dollars being bet on every match, the threat of corrupters seeking to influence the game has not gone away," an ICC spokesperson said.
Just a few weeks ago former Essex bowler Mervyn Westfield became the first English cricketer to be jailed for corruption after he admitted taking money to fix a match against Durham in September 2009.
Last year, three Pakistan players -- Salman Butt, Mohammad Asif and Mohammad Aamer -- were also jailed in Britain for 'spot-fixing' in a 2010 Test match against England.