Fideuram Hit by €95M AI Voice Scam, €36M Converted to Crypto
The Italian private bank Fideuram was hit by an AI voice scam in February 2026, resulting in approximately €95 million in overseas transfers. At least €36 million of these funds were converted into cryptocurrency.
Fraudsters impersonated Intesa Sanpaolo CEO Carlo Messina and a senior lawyer to deceive then-chairman Paolo Molesini. They sent him a WhatsApp message claiming to be Messina, requesting a confidential overseas acquisition that required Fideuram's involvement.
Molesini received the initial WhatsApp message on February 23, and subsequently, he received a call from an impersonated lawyer who was cloned to sound like a trusted legal adviser. The scammers then sent emails resembling law firm correspondence with recipient companies and foreign account details.
The Fideuram AI voice scam has been traced back to a foreign suspect, with Milan prosecutors investigating the case. Some money has been recovered or frozen, but there are differing reported recovery totals, ranging from €42 million stopped in Chinese accounts to more than €13 million frozen in Portugal.