This is coming after US intelligence agencies released an unclassified report saying Russia ran a hacking campaign to influence the US presidential elections.
Four of the senior-most US intelligence chiefs -- Director of National Intelligence James Clapper, FBI Director James Comey, CIA Director John Brennan, and NSA Director Admiral Mike Rogers, presented classified documents to Trump last week that Russian operatives claim to have compromising personal and financial information about him, CNN reports.
The claims say Trump’s presidential campaign secretly communicated with Moscow. They also say Russia has information about the private life of the US president-elect.
The FBI said it is currently investigating the credibility and accuracy of the allegations.
Both Trump and Russia have denied the claim. The President-elect had in the early hours of Wednesday debunked the report, stating "Fake News - A Total Political Witch Hunt!"
Dmitry Peskov, Spokesman to Russian President Vladimir Putin, said the allegations were "pulp fiction" and a "clear attempt to damage relations"
Mr. Trump is due to hold his first news conference in over two months, on Wednesday, where he is expected to tackle these allegations.