REUTERS - Reuters

Intesa Sanpaolo Hit by $108M AI Scam, $36M Missing Intesa Sanpaolo, Italy's largest bank, suffered a significant financial loss due to an AI-driven scam. Fraudsters impersonated senior executives using AI, leading to the theft of $108 million from its private banking arm, Fideuram. Although approximately $53 million was recovered through international cooperation, $36 million remains unaccounted for, having been converted into cryptocurrencies. The scam involved fake WhatsApp messages and phone calls, convincing Fideuram's then-Chairman Paolo Molesini to authorize transfers to foreign accounts. Molesini resigned in March, and a foreign national is under investigation for computer fraud. Intesa Sanpaolo and Fideuram declined to comment.