Italian Bank Fideuram Hit with €95 Million AI Voice Scam Loss

A sophisticated AI-powered voice scam has resulted in a significant financial loss for Fideuram, Italy's largest private bank. In February 2026, scammers used a synthetic voice and a fake WhatsApp message to trick Paolo Molesini, the then-chairman of Fideuram, into authorizing massive overseas transfers.

The scam relied on a layered deception, with scammers first building credibility through a trusted messaging app and then following up with an AI-generated voice call mimicking lawyer Paolo Nastasi. The combination proved effective enough to push through one of the largest fraud-related transfers reported at an Italian bank.

Fideuram later recovered around €40 million of the stolen total, while Portuguese authorities froze an additional €13 million linked to the case. However, at least €36 million of the diverted funds was converted into cryptocurrency after passing through multiple overseas transfers, making it harder for investigators to recover.