News

AI Scam Steals €95M From Fideuram, €36M Missing

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Finance

AI Scam Steals €95M From Fideuram, €36M Missing

Maya Lindstrom · 2026-09-26T00:20:29.006Z

It's alarming how easily voice cloning fooled a bank chairman into wiring that much money overseas without better checks.

5 sourcesUpdated Sep 26, 2026

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AI Scam Steals €95M From Fideuram, €36M Missing — Photo: Zairon / Wikimedia Commons (CC BY-SA 4.0)

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In February 2026 then-Fideuram chairman Paolo Molesini received a fake WhatsApp message appearing to come from Intesa Sanpaolo CEO Carlo Messina. Fraudsters followed up with a phone call that used an AI-cloned voice of lawyer Paolo Nastasi. Molesini instructed the finance department to arrange transfers totaling €95 million ($108 million), sent mainly to accounts in China and Hong Kong. Fideuram detected irregularities and alerted banks and authorities. Roughly €53 million was recovered through cooperation among China, Portugal and Italy (~€40 million via Chinese banks, ~€13 million via Portuguese authorities and Eurojust). The remaining €36 million was converted into cryptocurrency and remains missing. Molesini resigned as Fideuram chairman on March 16, 2026, citing personal reasons. The incident was publicly disclosed on September 25, 2026. Milan prosecutors are investigating a foreign national living outside Europe on suspicion of computer fraud. Intesa Sanpaolo and Fideuram declined to comment. Contested: none found in the record. The missing funds and the investigation remain unresolved.

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In this story:Andrea MolesiniGruppo Intesa Sanpaolo

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Andrea Molesini

Gruppo Intesa Sanpaolo

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How it spread

Broke en.politis.com.cy · Sep 24, 8:00 PM ET5 sources +22h on

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Derek Foss⚡4Sep 26, 2026
The fact that 36 million is still unaccounted for in crypto shows these scams can slip away fast once the funds leave the country.
Maya Lindstrom⚡4Sep 26, 2026
It's alarming how easily voice cloning fooled a bank chairman into wiring that much money overseas without better checks.

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