started · updated
Fideuram loses 95 million euros to AI-driven impersonation scam
Fraudsters used artificial intelligence to impersonate senior executives and steal approximately 95 million euros from Fideuram, the private banking division of Intesa Sanpaolo. The sophisticated multi-channel attack, which occurred in February 2026, targeted then-Chairman Paolo Molesini through a combination of WhatsApp messages, emails, and AI-generated voice cloning.
The scheme began with a WhatsApp message appearing to be from Intesa Sanpaolo CEO Carlo Messina, requesting urgent assistance with an overseas transaction. This was reinforced by a phone call where attackers used AI to replicate the voice of Paolo Nastasi, a managing partner at the law firm A&O Shearman. Believing the requests were legitimate, Molesini authorized transfers primarily to accounts in China and Hong Kong.
Through international cooperation involving authorities in China, Portugal, and Italy, approximately 53 to 59 million euros have been recovered. Specifically, a Chinese bank blocked 40 million euros, and Portuguese authorities helped seize 13 million euros. However, at least 36 million euros remain missing after being converted into cryptocurrencies.
This incident highlights the growing threat of 'CEO fraud' and the increasing efficacy of voice cloning technology in social engineering attacks. Investigations by Milan prosecutors are ongoing, including the scrutiny of a foreign national living outside Europe.
Entities
A&O Shearman · Carlo Messina · Fideuram · Intesa Sanpaolo · Paolo Molesini · Paolo Nastasi
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 10 SOURCES] The fraud began with a WhatsApp message impersonating Carlo Messina. www.hwupgrade.it · www.fanpage.it · www.litaliano.it · www.punto-informatico.it · www.ilpost.it · +4 more
- [○ 1 SOURCE] Over 1.8 million Italians were victims of bank account fraud or attempted fraud in the last year. www.dire.it
- [● 10 SOURCES] The fraud involved the transfer of approximately 95 million euros from Fideuram. www.hwupgrade.it · www.fanpage.it · www.litaliano.it · www.punto-informatico.it · www.soldionline.it · +4 more
- [● 3 SOURCES] Authorities recovered 13 million euros from a bank in Portugal. www.punto-informatico.it · cryptobriefing.com
- [○ 1 SOURCE] The total economic damage from Italian bank fraud is estimated at over 1.1 billion euros. www.dire.it
- [● 10 SOURCES] The attackers used AI to clone the voice of lawyer Paolo Nastasi. www.hwupgrade.it · www.fanpage.it · www.litaliano.it · www.punto-informatico.it · www.ilpost.it · +4 more
- [● 4 SOURCES] A Chinese bank blocked 40 million euros during the transaction. www.litaliano.it · www.punto-informatico.it · cryptobriefing.com
- [● 9 SOURCES] At least 36 million euros remain unrecovered and were converted into cryptocurrencies. www.litaliano.it · www.punto-informatico.it · www.soldionline.it · www.cnbce.com · srnnews.com · +3 more