Paolo Molesini voice deepfake — Oct 2026
Fraudsters used AI-generated voice cloning to impersonate a bank executive and trick the chairman of Banca Fideuram into authorizing 95 million euros in.
- Reported date
- Oct 5, 2026
- Target
- Paolo Molesini
The exact incident date was not established. This entry is dated by its source report.
Fraudsters successfully targeted the chairman of Banca Fideuram, Paolo Molesini, by utilizing advanced AI-driven voice cloning technology to impersonate a trusted superior. The sophisticated scheme resulted in the unauthorized transfer of over 95 million euros to external accounts.
What happened
The attack began when an impostor posing as a high-level executive used a WhatsApp voice message to inform Molesini of an upcoming call from a specific lawyer. Because the lawyer was a real person known to Molesini, the victim’s guard was lowered. During the subsequent phone call, the fraudster utilized speech-to-speech software to mimic the executive's voice in real-time.
To further legitimize the request, the perpetrators provided eleven documents, including a confidentiality agreement and a special power of attorney that appeared to bear the signature of the executive. These documents were forged using signatures easily accessible via public company financial statements. Believing the request was part of a legitimate international bank acquisition, Molesini authorized 11 separate bank transfers. The funds were initially directed to accounts in China and Portugal. While a portion of the money was recovered, 39.5 million euros remains missing. Investigations by Decripto and Indago Labs suggest the funds were moved through accounts in Malta, Luxembourg, and the Netherlands before being funneled into a Canadian money transfer platform and eventually into cryptocurrency wallets linked to a suspect.