AI Scam Call Costs Italy's Fideuram 95 Million Euros

Fraudsters used artificial intelligence to impersonate senior executives, stealing 95 million euros from Fideuram, the private banking arm of Italy's Intesa Sanpaolo.

Former Fideuram Chairman Paolo Molesini arranged the unauthorized transfers to overseas accounts in China and Hong Kong after receiving a deceptive WhatsApp message and an AI-mimicked phone call.

Authorities across Italy, China, and Portugal successfully recovered roughly 53 million euros, while the remaining 36 million euros remains missing after conversion into cryptocurrencies.