AI fraud tricks Italian bank chairman into 36 million euro loss

handelsblatt.com (German) —

Fraudsters using artificial intelligence tricked the former chairman of Italian bank Fideuram into transferring 95 million euros, with 36 million euros still unrecovered. The scam targeted a subsidiary of Italy's largest bank, Intesa Sanpaolo. The fraud began in February when Paolo Molesini received a WhatsApp message appearing to be from Intesa Sanpaolo CEO Carlo Messina, followed by a call mimicking a lawyer's voice via AI. Molesini then ordered transfers to accounts in China and Hong Kong. More than half the funds were later recovered, according to two sources familiar with the matter. Intesa Sanpaolo and Fideuram declined to comment on the incident.


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