The IOC is also referring the allegations to its independent Ethics Commission.
The Sunday Times report that several National Olympic Committees and Authorised Ticket Resellers were willing to break the rules by offering to buy or sell tickets outside their territories, to sell tickets at inflated prices or sell tickets to unauthorised resellers.
"On being informed of the allegations the IOC immediately convened an extraordinary meeting of its executive board and determined a number of actions - the convening of the Ethics Commission and asking for any evidence of wrongdoing to be provided to the Commission without delay," said the IOC.
"The IOC takes these allegations very seriously. Should any irregularities be proven, the organisation will deal with those involved in an appropriate manner.
"The NOCs are autonomous organisations but if any of the cases are confirmed the IOC will not hesitate to impose the strongest sanctions," it added.
The London Olympics start on July 27.