Blatter gave his first reaction to the arrest of seven officials in Zurich as part of a US corruption probe with FIFA provisionally banning 11 people over their alleged involvement in the scandal.
"This is a difficult time for football, the fans and for FIFA as an organisation. We understand the disappointment that many have expressed and I know that the events of today will impact the way in which many people view us," Blatter said in a statement.
The FIFA chief welcomed the investigation by US and Swiss authorities saying "it will help to reinforce measures that FIFA has already taken to root out any wrongdoing in football.
"While there will be many who are frustrated with the pace of change, I would like to stress the actions that we have taken and will continue to take."
Blatter said FIFA had asked Switzerland's attorney general to investigate the award of the 2018 and 2022 World Cups to Russia and Qatar respectively.
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