Italian private banking giant Fideuram suffered an AI voice telecom fraud and at least 36 million euros were converted into cryptocurrency

According to Italian media milano, in February 2026, former Fideuram chairman Paolo Molesini received a WhatsApp message impersonating Intesa Sanpaolo Group CEO Carlo Messina, and received a call using artificial intelligence to forge the voice of lawyer Paolo Nastasi, and then instructed the financial department to transfer funds to accounts in mainland China, Hong Kong and other places, with an initial transfer of approximately 95 million euros. Fideuram subsequently recovered approximately 40 million euros, and Portugal froze another 13 million euros. However, at least 36 million euros were still converted into cryptocurrency after multiple overseas transfers, and investigators are tracking the relevant funds through international judicial assistance. Molesini was not investigated and resigned as chairman on March 12, citing "personal reasons."