AI impersonation scam steals €95 million from Italy's Intesa Sanpaolo bank

nu.nl (Dutch) — September 25, 2026 at 10:01 PM UTC

Scammers used artificial intelligence to impersonate executives and stole 95 million euros from Italy's largest bank, Intesa Sanpaolo, in February. Over half the funds were recovered, but about 36 million euros remain missing. The fraud began when Fideuram chairman Paolo Molesini received a WhatsApp message appearing to be from CEO Carlo Messina, followed by a call from someone mimicking a lawyer's voice using AI. Molesini authorized transfers to accounts in China and Hong Kong before irregularities were spotted. Authorities in China, Portugal, and Italy recovered roughly 53 million euros, while the rest was likely converted to cryptocurrency. No arrests have been made, though prosecutors investigate a foreign suspect. A similar AI voice-cloning scam hit Italian businessman Massimo Moratti last year.

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