# Fideuram wires €95m after fake Intesa CEO messages and an AI-cloned lawyer's voice Source: https://www.bankingnewsai.com/ai-incidents/fideuram-2026-voice-clone-ceo-fraud Last updated: Oct 21, 2026 Fideuram - Intesa Sanpaolo Private Banking and Intesa Sanpaolo · AI used against the institution · severity 4 of 5 In February 2026 fraudsters impersonating Intesa Sanpaolo chief executive Carlo Messina on WhatsApp, followed by a phone call in which the voice of a known partner at an international law firm was replicated with artificial-intelligence tools, persuaded Paolo Molesini, then chairman of Intesa's private bank Fideuram, to order transfers of about €95 million abroad, mainly to China and Hong Kong, according to Corriere della Sera, which broke the story on 25 September 2026, and Reuters, citing two sources. About €53 million was recovered with help from a Chinese bank and Portuguese and Milan authorities, and roughly €36 million is reported missing after conversion into cryptocurrency. Milan prosecutors are investigating; Molesini, who resigned in March citing personal reasons, is not under investigation. Intesa Sanpaolo and Fideuram declined to comment. ## Key facts | | | | --- | --- | | Date | Feb 2026 (disclosed Sep 25, 2026) | | Institution | Fideuram - Intesa Sanpaolo Private Banking and Intesa Sanpaolo | | Country | Italy | | AI system | AI voice cloning of a known law-firm partner, combined with WhatsApp messages impersonating Intesa Sanpaolo's CEO | | AI? | Machine-learning system (inferred from the record) — The sources describe a machine-learning model; nobody on the record labelled it AI. | | Category | Voice clone (AI used against the institution) | | Status | Reported | | Severity | 4 of 5 — A large loss: about €95 million was wired to fraudsters and roughly €36 million had not been recovered, below the level of a systemic or multi-institution event. | ## What happened? According to Corriere della Sera, in February 2026 Molesini, then chairman of Fideuram, received a WhatsApp message that appeared to come from Carlo Messina, chief executive of the parent group Intesa Sanpaolo, asking him to make a series of urgent transfers through Fideuram's treasury so that Intesa would not miss a financial deal abroad. Corriere put the sums at around one hundred million euros, modest against the €450 billion of assets Fideuram administers. [1][4] The fraudsters then staged a phone call that appeared to come from a managing partner of a major international law firm whom Molesini knew, presented as the deal's intermediary and wholly unaware of the scheme. Corriere reported that the voice seemed genuine because the fraudsters had replicated it "ad arte con strumenti di intelligenza artificiale" ("skilfully with artificial-intelligence tools"; our translation); Reuters' sources likewise said the callers used AI to replicate the lawyer's voice. Emails made to look as if they came from the law firm supplied the foreign companies and accounts to pay. [1][3][5] Fideuram's finance director, instructed by the chairman, sent the money, mostly to China and Hong Kong, about €95 million in all. Fideuram's internal security systems then raised the alarm and the bank used international interbank cooperation channels: according to Corriere, a bank in China blocked and returned €40 million, and Milan prosecutors, working with Lisbon colleagues through Eurojust, had another €13 million frozen in Portugal. Reuters' sources put recoveries at roughly €53 million; Il Sole 24 Ore reported €59 million. [1][3][4] At least €36 million is missing after passing through overseas accounts and being converted into cryptocurrencies, which investigators are trying to trace through international requests. Corriere reported on 26 September that prosecutors had placed a 48-year-old Israeli national under investigation in connection with an account that received €4 million routed through Malta, Luxembourg, the Netherlands, a Canadian money-transfer platform and two bitcoin wallets, while cautioning that his identity may itself be a front. The AI voice element is described by the press and Reuters' sources; no official statement describing the technique has been published. [1][2][3] ## Timeline - Feb 2026 — Fake WhatsApp messages in Carlo Messina's name and an AI-cloned lawyer's call lead Fideuram to wire about €95 million abroad. [1][3] - Mar 12, 2026 — Paolo Molesini resigns as Fideuram chairman, citing personal reasons in a brief Fideuram announcement. [1][3] - Sep 25, 2026 — Corriere della Sera reports the fraud; Reuters confirms the outline through two sources, and Intesa Sanpaolo and Fideuram decline to comment. [1][3][4] - Sep 26, 2026 — Corriere reports that Milan prosecutors have a 48-year-old Israeli national under investigation over part of the money trail. [2] ## What was the impact? - Financial: About €95 million transferred; about €53 million recovered (Il Sole 24 Ore: €59 million) and about €36 million missing - Other: The transfers were made through Fideuram's treasury; no impact on client accounts has been reported. [1][3][4] ## How did Fideuram - Intesa Sanpaolo Private Banking and Intesa Sanpaolo respond? Intesa Sanpaolo and Fideuram declined to comment, Reuters reported on 25 September 2026. When Molesini left in March, Fideuram said only that he had resigned for personal reasons. Per Corriere, the investigation began with Fideuram's own immediate complaint to prosecutors, and the bank has not started any proceedings against Molesini. [1][3] ## What was the outcome? Milan prosecutors Alfonso Serritiello and Barbara Benzi are investigating; a Milan judge ordered the seizure of the €13 million frozen in Portugal. Neither Molesini nor other Fideuram executives are under investigation, according to Reuters' sources, while a foreign national living outside Europe is under investigation on suspicion of computer fraud. As of 2026-10-21 no charges have been reported and about €36 million remains untraced. [1][3] ## FAQ ### How much money did Fideuram lose to the AI voice scam? About €95 million left Fideuram in February 2026. Roughly €53 million was recovered, €40 million returned by a bank in China and €13 million frozen in Portugal, according to Reuters' sources and Corriere della Sera, while Il Sole 24 Ore reported €59 million recovered. About €36 million is reported missing after conversion into cryptocurrency. ### Was AI really used in the Fideuram fraud? Corriere della Sera and Reuters' sources say the fraudsters replicated a known lawyer's voice with artificial-intelligence tools for a call confirming the fake CEO's WhatsApp instructions. Neither Intesa Sanpaolo, Fideuram nor the prosecutors have publicly described the technique, so we record it as reported voice cloning. ### Did Intesa Sanpaolo or Fideuram comment? Both declined to comment to Reuters on 25 September 2026. Fideuram had announced in March only that its chairman, Paolo Molesini, had resigned for personal reasons. According to Corriere, Fideuram reported the fraud to Milan prosecutors immediately and has not taken action against Molesini. ### Is anyone being investigated? Milan prosecutors are investigating. Reuters' sources said a foreign national living outside Europe is under investigation on suspicion of computer fraud, and Corriere reported a 48-year-old Israeli national under investigation over an account that received €4 million. Molesini and other Fideuram executives are not under investigation. ## Sources 1. [Il falso messaggio WhatsApp inviato all'ex presidente Fideuram e la telefonata contraffatta con l'AI: spariti 36 milioni di euro](https://milano.corriere.it/notizie/cronaca/26_settembre_25/fideuram-truffa-falso-messaggio-whatsapp-molesini-milioni-d5248b46-a7e7-4130-8c74-e09be5e00xlk.shtml) — Corriere della Sera (Milano), Sep 25, 2026 (news): "È un avvocato d'affari che Moresini conosce, e se la voce gli sembra proprio quella è perché i truffatori l'hanno replicata ad arte con strumenti di intelligenza artificiale." 2. [Truffa Fideuram, indagato un 48enne israeliano: i soldi transitati su conti a Malta, Lussemburgo e Olanda](https://milano.corriere.it/notizie/cronaca/26_settembre_26/truffa-fideuram-ifis-frodi-14e046de-a157-4b21-aaf7-444b75961xlk.shtml) — Corriere della Sera (Milano), Sep 26, 2026 (news): "C'è un indagato, ma chissà se esiste davvero con quella identità" 3. [AI messaging scam costs Italy's top bank Intesa millions, sources say](https://www.reuters.com/legal/government/ai-messaging-scam-costs-italys-top-bank-intesa-millions-sources-say-2026-09-25/) — Reuters, Sep 25, 2026 (news): "Fraudsters using AI to impersonate senior executives stole €95 million ($108 million) from Fideuram, the private banking arm of Italy's biggest lender Intesa Sanpaolo, two sources familiar with the matter said on Friday." 4. [95 million scam at Fideuram: former chairman duped by WhatsApp messages and a synthetic voice](https://en.ilsole24ore.com/art/the-former-boss-of-fideuram-was-scammed-via-whatsapp-and-36-million-have-gone-missing-AJXuauOB) — Il Sole 24 Ore, Sep 25, 2026 (news): "A sophisticated scam exploited a banker's digital identity and a lawyer's fake voice to steal millions: 59 million has been recovered thanks to international cooperation." 5. [AI enables million-euro fraud at Italian bank](https://www.heise.de/en/news/AI-enables-million-euro-fraud-at-Italian-bank-11468915.html) — heise online, Sep 29, 2026 (news): "This was followed by a call with the AI-generated voice of a lawyer for the financial group." All AI incidents at banks: https://www.bankingnewsai.com/ai-incidents --- Canonical page: https://www.bankingnewsai.com/ai-incidents/fideuram-2026-voice-clone-ceo-fraud Part of [BankingNewsAI](https://www.bankingnewsai.com/) — the register of AI incidents at banks: https://www.bankingnewsai.com/ai-incidents. Markdown versions of every reference page: append `.md` to the page URL; index at https://www.bankingnewsai.com/llms.txt.