Standard Chartered PLC CEO Bill Winters criticized media coverage of the bank's efforts to enhance financial crime controls, Reuters reported Oct. 9.

In an internal memo sent to senior managers, Winters also reassured staff about the bank's progress in fixing its regulatory compliance issues, as well as its recent financial performance.

The memo follows reports of an impending $1.5 billion fine over allegedly allowing customers to violate U.S. sanctions imposed on Iran in the past.