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Fideuram loses 95 million euros in AI-driven banking fraud
Fideuram, the private banking division of Intesa Sanpaolo, was the victim of a massive AI-driven fraud resulting in the loss of approximately 95 million euros. The scheme, which began in February, involved fraudsters using artificial intelligence to clone the voices of high-ranking officials and impersonate executives.
The deception started when Paolo Molesini, then president of Fideuram, received a WhatsApp message appearing to be from Intesa Sanpaolo CEO Carlo Messina, requesting urgent overseas transfers. The scam was bolstered by an AI-generated phone call that mimicked the voice of a partner at the law firm A&O Shearman, providing false legitimacy to the request.
Following the fraudulent instructions, transfers were made to accounts primarily in China and Hong Kong. While authorities in Italy, China, and Portugal successfully cooperated to recover approximately 53 million euros, about 36 million euros remain missing, reportedly having been converted into cryptocurrency through a network of offshore accounts. Milan prosecutors are currently investigating a non-European resident in connection with the computer fraud.
Entities
A&O Shearman · Carlo Messina · Fideuram · Intesa Sanpaolo · Paolo Molesini
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 2 SOURCES] The fraud began in February when Paolo Molesini, then president of Fideuram, received a WhatsApp message appearing to be from Intesa Sanpaolo CEO Carlo Messina. radiomoldova.md · newsweek.ro
- [● 3 SOURCES] Fideuram, the private banking division of Intesa Sanpaolo, transferred approximately 95 million euros to fraudulent accounts. radiomoldova.md · jurnalul.ro · newsweek.ro
- [● 2 SOURCES] Approximately 36 million euros remain missing after being moved through offshore accounts and converted into cryptocurrency. radiomoldova.md · newsweek.ro
- [● 2 SOURCES] Approximately 53 million euros were recovered through cooperation between authorities in China, Portugal, and Italy. radiomoldova.md · newsweek.ro
- [○ 1 SOURCE] Paolo Molesini resigned as president of Fideuram in March, citing personal reasons. radiomoldova.md
- [● 3 SOURCES] Fraudsters used artificial intelligence to clone the voice of a high-ranking lawyer to validate fraudulent instructions. radiomoldova.md · jurnalul.ro · newsweek.ro
- [○ 1 SOURCE] Milan prosecutors are targeting a non-European resident suspected of computer fraud. radiomoldova.md
- [● 2 SOURCES] The fraudulent transfers were directed toward accounts located primarily in China and Hong Kong. radiomoldova.md · newsweek.ro