Intesa Sanpaolo Bank AI Scam: Fraudsters Steal INR 10,000 Crore Using Fake Executive Calls

Fraudsters allegedly used AI-generated voices and fake WhatsApp messages to impersonate senior executives, tricking officials at Fideuram, the private banking arm of Italy’s Intesa Sanpaolo, into transferring around €95 million (approximately $108 million) to overseas accounts, according to two sources familiar with the matter.

The sophisticated scam reportedly began in February 2026, when then-Fideuram Chairman Paolo Molesini received a WhatsApp message that appeared to come from Intesa Sanpaolo CEO Carlo Messina. The message reportedly requested urgent assistance with an overseas transaction.

AI Voice Used To Impersonate Lawyer

The fraudsters allegedly followed up with a phone call from someone posing as a senior partner at a prominent law firm. According to reuters, AI technology was used to replicate the lawyer's voice, making the fraudulent request appear legitimate. What Is AI-Based Biometric Scam? Hyderabad Police Issue Urgent Advisory as Cybercriminals Target Facial and Voice Data for Deepfake Identity Theft.

Believing the instructions were genuine, Molesini reportedly directed Fideuram's finance department to make several transfers to foreign accounts, primarily in China and Hong Kong.

Fideuram later detected irregularities in the transactions and alerted banks and authorities in multiple countries. Microsoft Dismantles EvilTokens Cybercrime Platform That Used AI Chatbots to Breach 12,000 Accounts Globally; Details Here.

€53 Million Recovered, €36 Million Still Missing

Authorities and banks managed to recover around €53 million through cooperation between officials in China, Portugal and Italy, according to the sources. However, approximately €36 million remains untraced, with the money reportedly moving through overseas accounts before being converted into cryptocurrency.

Neither Intesa Sanpaolo nor Fideuram commented on the reported fraud.

Molesini resigned as Fideuram chairman in March, citing personal reasons. The bank did not provide further details about his departure at the time.

The case highlights how AI voice cloning and impersonation scams are increasingly being used to make fraudulent financial instructions appear authentic, particularly when criminals target senior executives and high-value transactions.

Previous AI Voice Scam Targeted Italian Businessman

This is not the first reported case in Italy involving AI-generated voices. Last year, fraudsters reportedly impersonated an Italian minister and persuaded businessman Massimo Moratti to transfer nearly €1 million to an overseas account. The money was later recovered.

(The above story first appeared on LatestLY on Sep 26, 2026 03:45 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).