AI Voice Trick Fuels €95 Million Bank Fraud in Italy

Fraudsters used artificial intelligence to impersonate senior executives and divert €95 million from Fideuram, the private banking arm of Italy’s largest lender, Intesa Sanpaolo.

The scheme reportedly began in February 2026, when the bank’s then-chairman, Paolo Molesini, received a WhatsApp message appearing to come from Intesa Sanpaolo CEO Carlo Messina, requesting urgent assistance with an overseas transaction. A subsequent phone call used an AI-generated imitation of a senior lawyer’s voice to make the request appear genuine.

The bank later recovered approximately €53 million through international cooperation, while around €36 million remains missing. Italian prosecutors are investigating the suspected fraud.

The case highlights the growing risks posed by AI-powered impersonation and voice-cloning scams in the financial sector.