Scammers used an AI voice clone and a fake WhatsApp message to move €95 million out of an Italian bank

In February 2026, a complex fraud scheme targeted Paolo Molesini, the chairman of Fideuram, a private banking institution belonging to Italy's largest bank, Intesa Sanpaolo. The scheme began with a WhatsApp message that seemed to come from Intesa Sanpaolo CEO Carlo Messina, asking Molesini to assist with a large overseas transaction.

Soon after, a senior partner at a major law firm called Molesini, but in reality, cybercriminals had used AI models to imitate the lawyer's voice, making the call appear legitimate. The Fideuram chairman was instructed to proceed with the transaction, resulting in the bank transferring €95 million (approximately $108 million) to various foreign accounts, including those in China and Hong Kong.

Fideuram's team noticed irregularities in the transactions and alerted the banks where the money was sent. After collaborating with local authorities in Italy, Portugal, and China, Fideuram managed to recover €53 million from the fraudulent transactions. The remaining funds were ultimately lost after moving through a complex network of overseas accounts and being converted into an undisclosed cryptocurrency.

Molesini resigned from his position in March, though he did not provide a specific reason for his departure from the high-paying role. The incident sheds light on the potential financial disaster that AI models can bring as security threats increase. Italian prosecutors are currently investigating the alleged cybercriminals behind this AI-generated heist, with one suspect living outside the European Union under scrutiny for computer fraud.