PCB chairman Shehryar Khan promised action if required but also assured that Moin Khan would get a fair probe.
Pakistan suffered a comprehensive 150-run defeat, adding to the anger of the fans who were livid after the team's defeat against arch-rivals India. Moin's recent incident has only added fuel to the fire.
"We have launched an investigation over the reports that Moin Khan visited a casino, action will be taken if the reports prove true," Khan told reporters.
"But we will not make anybody a scapegoat and will investigate this incident before taking any action."
Pakistan are languishing at the bottom of Pool B after consecutive defeats, prompting cricket fans in the country to hold a mock funeral for the national team.
Pakistan next play Zimbabwe in Brisbane on Sunday.
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