The case is reportedly in addition to the overall investigation into Blatter in Switzerland. 

According to Agence France-Presse, the new probe is connected with a $1 million (£800,000/€890,000) loan given by FIFA to the Trinidad and Tobago Football Association (TTFF) in 2010.

It is claimed the unsecured loan was given interest-free and was later waived by FIFA.

Blatter is named as an "accused person" in the case, along with former FIFA general secretary Jerome Valcke and finance director Markus Kattner.

The payment is the latest to be examined regarding FIFA and the organisation's former vice-president, Jack Warner.

Warner, who has been banned from football for life, continues to fight extradition from Trinidad and Tobago to the United States.

Blatter, who was President of FIFA for 17 years before leaving the post in June 2015, is currently serving a six-year ban from all football-related activities.

According to Agence France-Presse, Blatter responded to the latest investigation by saying he had been "informed of the accusation, and I totally reject its content".

Swiss prosecutors formerly dropped one investigation into Blatter earlier this month, with the case relating to an agreement FIFA and its former President made with the Caribbean Football Union (CFU) for broadcasting rights in the region for two World Cups.

Warner was President of the CFU at the time and there were suspicions that Blatter and FIFA had sold these rights well below market value.

Another case opened in 2015 remains active and pertains to a CHF2 million (£1.5 million/$2 million/€1.8 million) payment Blatter made to former UEFA head Michel Platini.

Both maintained the payment was made as part of an oral agreement for work Platini carried out for Blatter between 1998 and 2002, but FIFA's Ethics Committee dismissed that claim and its ruling was later upheld by the Court of Arbitration for Sport.

Blatter was banned for six years and Platini four over the affair.