AI voice-clone scam steals €95m from Italian bank Fideuram

gulfnews.com — September 26, 2026 at 11:01 AM UTC

Artificial intelligence voice-cloning fraudsters stole approximately €95 million from Italian private bank Fideuram by impersonating senior executives and a lawyer, with about €36 million still missing despite partial recovery. The scam began in February when Fideuram's chairman received a fake WhatsApp message from Intesa Sanpaolo's CEO, followed by a phone call using AI-cloned voice of a law firm partner. The chairman authorized transfers mainly to China and Hong Kong accounts. Authorities in Italy, China, and Portugal recovered roughly €53 million, while the rest was moved through overseas accounts and converted into cryptocurrencies. No Fideuram executives face investigation, though a foreign national is being probed for computer fraud.

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