# Fideuram AI-driven banking fraud

> Live situation record from CLSTR: https://clstr.news/situations/fideuram-ai-driven-banking-fraud
> Updated: 2026-09-27T06:05:00.000Z. Sources: 37. Developments: 2.

Fideuram, the private banking arm of Italy’s Intesa Sanpaolo, fell victim to an AI-driven impersonation scam that began in February 2026, resulting in a loss of approximately €95 million.

The fraud utilized a multi-channel approach, including WhatsApp messages appearing to be from Intesa Sanpaolo CEO Carlo Messina and AI-cloned voice calls mimicking a prominent lawyer to provide false legitimacy. These tactics deceived then-Fideuram Chairman Paolo Molesini into authorizing transfers to accounts located primarily in China and Hong Kong.

Through international cooperation between authorities in Italy, China, and Portugal, between €53 million and €59 million has been recovered. However, at least €36 million remains missing after being converted into cryptocurrencies. Milan prosecutors have placed a non-European national under investigation for computer fraud.

## Claims

- Fideuram, the private banking division of Intesa Sanpaolo, transferred approximately 95 million euros to fraudulent accounts. (corroborated by 3 sources)
- Fraudsters used artificial intelligence to clone the voice of a high-ranking lawyer to validate fraudulent instructions. (corroborated by 3 sources)
- Approximately 53 million euros were recovered through cooperation between authorities in China, Portugal, and Italy. (corroborated by 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. (corroborated by 2 sources)
- The fraudulent transfers were directed toward accounts located primarily in China and Hong Kong. (corroborated by 2 sources)
- Milan prosecutors are targeting a non-European resident suspected of computer fraud. (single source)
- Paolo Molesini resigned as president of Fideuram in March, citing personal reasons. (single source)

## Timeline

### 2026-09-27: Fideuram loses 95 million euros in AI-driven banking fraud

Fideuram, an Italian private banking division, lost 95 million euros to an AI-powered fraud involving voice cloning and impersonation of top executives. Authorities have recovered 53 million euros.

4 sources. https://clstr.news/cluster/fideuram-loses-95-million-euros-in-ai-driven-banking-fraud

### 2026-09-25: Fideuram loses €95 million to AI-driven executive impersonation scam

Fraudsters used AI voice cloning and fake WhatsApp messages to steal €95 million from Fideuram, an Intesa Sanpaolo subsidiary. While €53 million was recovered, €36 million in cryptocurrency remains missing.

33 sources. https://clstr.news/cluster/fideuram-former-president-loses-36-million-euros-in-ai-driven-fraud

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Cite as: Fideuram AI-driven banking fraud. CLSTR, https://clstr.news/situations/fideuram-ai-driven-banking-fraud