Fideuram, the wealth management subsidiary of Intesa Sanpaolo, lost €39.5 million in a sophisticated fraud using voice deepfakes. In February, scammers drained approximately €95 million from the treasury by impersonating CEO Carlo Messina via WhatsApp, then confirming the order with an AI-cloned voice mimicking a well-known business attorney. Investigators recovered €53 million through interbank cooperation in China and Portugal, but the remaining €39.5 million was converted into cryptocurrencies. Fideuram president Paolo Molesini resigned on March 12. The FBI recorded over 22,000 complaints for AI-related fraud in 2025, representing $893 million in reported losses.
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