AI voice-cloning scam hits Italy's Intesa Sanpaolo, reports diverge on losses
Reports agree that fraudsters used AI to clone a lawyer's voice to steal from Italy's largest bank, but cite different figures for the sum lost and recovered, which may reflect the same loss reported in different currencies rather than separate totals.
What happened
Fraudsters used artificial intelligence to clone the voice of a senior lawyer to impersonate executives and authorize a fraudulent payment, according to multiple reports citing sources familiar with the matter.23
The scam targeted Intesa Sanpaolo, Italy's largest bank, with one report specifying the private banking arm Fideuram as the unit affected.2
Reports differ on the exact financial loss, with figures ranging from a rupee-denominated amount cited by NDTV to €95 million (US$108 million) cited by VnExpress International; it is unclear whether these refer to the same underlying loss.12
One report said half the stolen funds were recovered while the rest passed through overseas accounts and were converted into cryptocurrencies and remain untraced.1
What's agreed
Reported consistently by outlets in more than one region.
- Fraudsters used AI to clone a senior lawyer's voice to carry out a scam against Intesa Sanpaolo, Italy's biggest bank.23
- The AI-cloned voice was used to impersonate senior figures and confirm a fraudulent payment instruction.23
- The scam resulted in a loss reported as over one hundred million dollars, though outlets differ on the precise figure and currency.123
Where accounts differ
Each account is attributed to who makes it. We do not judge between them.
Amount stolen and recovered
NDTV, citing sources who spoke to Reuters
Reports the loss as Rs 10,34,00,00,000, with half the amount recovered and the rest untraced after passing through overseas accounts and cryptocurrency conversions. NDTV does not give a dollar conversion for this figure.1
VnExpress International, citing two sources familiar with the matter
Reports the loss as €95 million (US$108 million) stolen from Fideuram, Intesa Sanpaolo's private banking arm, without specifying a recovered amount.2
The Express Tribune
Describes the loss only as 'millions' without giving a specific figure.3
How it's framed
What each perspective puts first, based on headlines and summaries.
| Perspective | How it reads | What it puts first |
|---|---|---|
| NDTVSouth Asia | NDTV's coverage emphasized the specific rupee-denominated loss figure and the partial recovery status, including detail on funds moving through overseas accounts and cryptocurrency conversions.1 | Financial loss figure, Partial recovery, Overseas accounts and cryptocurrency |
| The Express TribuneSouth Asia | The Express Tribune focused on the mechanics of the voice-cloning scam without citing specific financial figures.3 | AI voice cloning mechanics |
| VnExpress InternationalSoutheast Asia | VnExpress International provided the most detailed account, naming Fideuram as the specific unit targeted and giving a precise euro and dollar figure sourced to two people familiar with the matter.2 | Specific dollar and euro figures, Identification of Fideuram as the target, AI impersonation of executives |
What the coverage leaves out
- None of the outlets reviewed reported a response from Intesa Sanpaolo or Fideuram.
- None of the outlets reviewed identified the perpetrators or their location.
- None of the outlets reviewed reported whether law enforcement or regulators have opened a formal investigation.
- None of the outlets reviewed clarified whether the rupee figure cited by NDTV and the euro/dollar figure cited by VnExpress International refer to the same underlying loss.
Why it matters
Sources (3)
Every outlet we drew on, grouped by where it is based. Read the originals for the full reporting.
South Asia
- 1NDTVINPrivate
AI Scam Call Costs Italy's Top Bank Rs 10,34,00,00,000. Half Amount Recovered
- 3The Express TribunePKPrivate
AI messaging scam costs Italy's top bank Intesa millions, sources say
Southeast Asia
- 2VnExpress InternationalVNPrivate
Italy's biggest private bank wires $108M to scammers who clone a lawyer's voice with AI