As cybercrime estimates exceed $21 Billion, Old National Bank Guides Clients on Digital Risk
Cybercrime is no longer a distant or abstract threat – it’s a rapidly escalating risk with real financial consequences. According to the FBI’s most recent Internet Crime Complaint Center report, Americans lost nearly $21 billion to cybercrime in 2025 – a 26% increase from the prior year.
Investment fraud, business email compromise, and technology support scams drove much of that growth, with one trend standing out clearly: When cryptocurrency is involved, losses tend to be higher and recovery far more difficult.
As someone who works closely with our Technology, Risk, and Information Security teams, I see firsthand how quickly cybercriminal tactics are evolving. Scammers are increasingly sophisticated, patient, and convincing – often leveraging AI, social engineering, and digital assets to create a false sense of urgency or legitimacy. These schemes do not discriminate by age, income, or experience, though older Americans remain disproportionately impacted.
Where Cryptocurrency Creates Cybercrime Risk
Cryptocurrency itself is not inherently risky, but its structure can amplify risk for everyday users. Unlike traditional bank accounts, most cryptocurrencies fall outside long-established consumer protection frameworks. Transactions are typically irreversible. Assets are not insured. Identities are hard to verify. And in many cases, oversight is fragmented or still emerging.
The FBI reports that crypto-related complaints accounted for more than $11 billion in losses in 2025 alone, with the average loss rising dramatically when cryptocurrency was used as the payment method. Too often, crypto and cybercrime victims are lured by promises of high returns, pressured into quick decisions, or guided to platforms that appear legitimate but are anything but.
From a banking perspective, the concern is not innovation – it’s unmanaged risk. Financial innovation works best when trust, transparency, and safeguards are built in from the start.
Old National’s View: Innovation With Guardrails
At Old National, we believe the future of money will continue to become more digital – but it must also remain safe, regulated, and worthy of our clients’ trust. That belief guides how we evaluate new technologies and why we advocate for responsible digital currency solutions.
Currently, Old National is actively engaged in exploring tokenized deposits – a concept that is often misunderstood but critically important. Tokenized deposits are not cryptocurrencies. They are digital representations of traditional bank deposits that remain insured, regulated, and subject to the same rigorous controls bank clients already rely on today.
This distinction matters. Unlike many cryptocurrencies:
- Tokenized deposits stay within the banking system
- Funds remain backed by insured deposits
- Transactions operate under existing regulatory and risk frameworks
In other words, innovation does not require abandoning protections.
Advocacy Matters – For Clients and Communities
Old National is also using its voice beyond our own organization. Through industry partnerships and policy engagement, we support clearer regulatory guardrails that encourage innovation while prioritizing consumer protection. As highlighted in our most recent Corporate Annual Report, disciplined risk management and thoughtful investment in technology are central to how we deliver long-term value – not just to shareholders, but to the communities we serve.
Education remains just as essential. From understanding digital risks to navigating new financial tools with confidence, banks have a responsibility to be trusted guides, not passive observers.
A Clear Takeaway on Cybercrime and Crypto
Cryptocurrency has captured headlines, but trust is still the most valuable currency of all. At Old National, we are committed to advancing financial innovation and battling cybercrime in a way that protects what matters most: our clients’ money, their confidence, and their future.
That’s not just good banking. It’s responsible progress.
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