Intesa Sanpaolo loses millions in deepfake AI voice scam

Italy's largest bank, Intesa Sanpaolo, was defrauded of tens of millions of euros using a deepfake AI voice, according to Italian prosecutors who are now warning other banks to remain vigilant. The fraud began in February when the head of the bank's private banking division received a WhatsApp message appearing to be from CEO Carlo Messina, followed by a phone call using AI to mimic a senior lawyer's voice, plus forged emails, leading to unauthorized transfers mainly to China and Hong Kong. Internal security systems helped recover about 60 million euros with authorities in China, Portugal, and Italy, but roughly 36 million euros remains untraceable, reportedly converted into cryptocurrency. The private banking chairman resigned in March for personal reasons, and Italian prosecutors are investigating, with a foreign suspect identified in the case.