AI voice-clone scam moved €95 million out of Italy's Fideuram bank
Fideuram chairman Paolo Molesini was deceived by a fake WhatsApp message posing as Intesa Sanpaolo CEO Carlo Messina and a follow-up call using an AI-generated voice impersonating a law firm partner. Believing the request was legitimate, Fideuram wired €95 million to accounts in China and Hong Kong before staff spotted irregularities. Authorities in Italy, Portugal and China helped recover €53 million, and Molesini has since resigned.
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The incident shows how AI voice cloning can now bypass senior executives' judgment even at major financial institutions, raising the bar for verification protocols on high-value transfers. It suggests banks may need new authentication standards that don't rely on voice or messaging trust alone, since traditional social-engineering defenses appear outdated against generative AI tools.
- Fideuram lost €95 million to an AI voice-clone and fake-message scam targeting its chairman
- Only €53 million has been recovered so far through international cooperation
- Chairman Paolo Molesini resigned following the incident
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Published there as: “Scammers used an AI voice clone and a fake WhatsApp message to move €95 million out of an Italian bank”
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