AI fraud at Italian bank: 95 million euros stolen
In February 2026, then Fideuram chairman Paolo Molesini received a WhatsApp message that appeared to come from Intesa Sanpaolo's CEO Carlo Messina, asking for urgent help with an overseas transfer.
Shortly after, someone claiming to be a lawyer from a well-known firm called to confirm the request. Investigators say the voice was generated with artificial intelligence and sounded convincing to Molesini because he knew the real lawyer.
Believing the confirmation was genuine, Molesini instructed his finance department to wire a total of about 95 million euros, most of which went to China and Hong Kong.
Fideuram noticed the irregularities soon after. Thanks to cooperation between authorities in Italy, China and Portugal, reports say around 53 million euros were recovered, while about 36 million euros remain missing, partly converted into cryptocurrency.
Molesini resigned as Fideuram chairman in March, officially citing personal reasons. He is not under investigation himself, but prosecutors are investigating a person living outside Europe on suspicion of computer fraud.
Milan prosecutors point to similar cases: in May, an employee at Banca Ifis was tricked by fake emails into transferring 24 million euros, and earlier fraudsters used a cloned voice of Italy's defense minister to deceive a billionaire.
WHY IT MATTERS
This case shows that AI-generated voices and fake messages are now convincing enough to push even experienced finance professionals into multimillion-euro mistakes.
WHAT YOU CAN DO NOW
- Always call back, never use the number in the message Save important contacts yourself beforehand and call them back using that saved number before approving any payment. This avoids using a fake number sent in a message.
- Pause deliberately when there's time pressure Scammers rely on urgency so you don't think it through. Take your time and talk to another person before making an unusual transfer.
- Confirm payments through a second channel Never rely on just a phone call or chat message. Confirm larger transfers through another, pre-agreed communication method.
- Require two-person approval for large transfers Make sure big wire transfers always need review by more than one person. This applies even if someone claiming to be the boss calls or messages directly.