AI voice clone tricks Italian private bank Fideuram out of 36 million euros

Fraudsters used artificial intelligence to impersonate a lawyer's voice and steal approximately 36 million euros from Fideuram, a private bank subsidiary of Italy's largest bank, Intesa Sanpaolo. The scheme initially targeted 95 million euros, but over half was later recovered. The fraud began in February when Fideuram's then-chairman Paolo Molesini received a WhatsApp message appearing to be from Intesa Sanpaolo CEO Carlo Messina, followed by a call with an AI-cloned voice of a law firm partner. Molesini authorized transfers to accounts in China and Hong Kong. Authorities in Italy, China, and Portugal recovered about 53 million euros, while remaining funds were converted to cryptocurrency and lost. Molesini resigned in March citing personal reasons, and no charges have been filed against him. Milan prosecutors are investigating a foreign national for computer fraud. A similar AI voice-cloning scam targeting an Italian minister last year was also resolved with funds recovered.