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The AFC said on Monday it enforced a provisional suspension of 30 days for bin Hammam, who is already fighting a lifetime ban from soccer, imposed by FIFA.
The charges heap further shame on the Qatari, who was ousted from FIFA for trying to buy votes while challenging Sepp Blatter for presidency of football's governing body last year.
The latest sanctions against bin Hammam come after a yearlong audit that has revealed "infringements" regarding the "execution of certain contracts" and tampering with AFC bank accounts, the Malaysia-based Asian football body said in a statement Monday.
The statement did not elaborate. It only said the case has been referred to the AFC's disciplinary committee.
Bin Hammam was elected AFC president in 2002. He has been fighting to restore his reputation since a bribery scandal hit the highest management of world football in May 2011, a week before the FIFA presidential election.
The Qatari withdrew his bid just hours before FIFA provisionally suspended him, allowing Blatter to be re-elected unopposed.
FIFA used evidence from whistleblowers that pointed to bin Hammam handing out $40,000 bribes in cash to each of 24 Caribbean football nations during his campaign visit to Trinidad.
Bin Hammam was banned for life from all football-related duties a year ago.
Jack Warner, FIFA vice president and a veteran power broker in the north and central American and Caribbean (CONCACAF) region was also implicated in the scandal. Warner walked away from world football before FIFA concluded its probe into allegations of wrongdoings.
Bin Hammam appealed the FIFA ban in April at the Court of Arbitration for Sport in Lausanne, Switzerland.
A verdict in the case is expected this week.
Bin Hammam and his American lawyer could not be reached for comment Monday.
The AFC is the second of FIFA's six confederations to reveal widespread allegations of financial management this year after opening their books to auditors.
CONCACAF leaders announced in May that they believed Warner and former general secretary Chuck Blazer had mismanaged its finances and commercial contracts over a number of years. The New York-based body reported itself to the United States Internal Revenue Service over failures to file tax returns.
Blazer is the most senior American official in world football. The evidence he collected from whistleblowers against Warner and bin Hammam was crucial in bringing down two of his long time colleagues on the FIFA executive committee.
