AI impersonation scam steals €95 million from Intesa Sanpaolo
A bold AI-powered scam just shook up Intesa Sanpaolo, Italy's largest bank.
Fraudsters used AI to impersonate top executives, tricking then-Fideuram Chairman Paolo Molesini with a fake WhatsApp message and a convincing AI-generated phone call.
The result? €95 million was transferred out of the bank in what felt like minutes.
Missing €36 million after cryptocurrency conversion
Most of the stolen cash ended up in accounts across China and Hong Kong, with about €36 million still missing after being converted into cryptocurrency.
While Fideuram managed to recover some funds by working with international authorities, the search continues.
No executives are under investigation right now, but Italian prosecutors are chasing leads abroad.
This case is just one example of how digital scams are evolving, and why banks everywhere need to stay sharp as tech keeps moving fast.