Newspaper reports of African National Congress (ANC) Youth League president Julius Malema facing arrest on charges relating to his financial affairs were lies, his organisation said on Monday.

"Certain sections of the media try to divert attention by spreading sensational lies and rumours about the leadership of the ANC Youth League," said spokesperson Floyd Shivambu.

He accused the media of trying to divert attention from the league's "very successful" 24th national congress.

Shivambu said there had never been any form of communication between Malema and the Hawks, who were reportedly investigating him.

"If there is any investigation conducted by Hawks, the leadership of the ANCYL will fully cooperate because there is completely nothing wrong done on the part of the leadership," said Shivambu.

On Monday, The Times reported that a joint investigation by the Hawks and the SA Revenue Service into Malema's financial affairs was almost complete.

It said the investigation was "as good as complete" and it was "just a matter of time" before authorities acted.

At the weekend the Sunday Independent reported that an investigation into Malema had found prima facie evidence of wrongdoing.

The Hawks declined to comment on the matter on Monday morning.

The Daily Sun reported Malema as daring the Hawks to lay charges against him.

"Bring it on! I am tired of being threatened," Malema told the newspaper.

"Everybody is setting the Hawks on me. I have never done anything wrong and maybe it would be better if the Hawks charge me so that I can explain these allegations in front of a magistrate."