AI Scam Call Costs Italy's Top Bank Rs 10,34,00,00,000. Half Amount Recovered
Fraudsters used AI-generated voice technology to impersonate a bank executive and steal 95 million euros from Italy's Fideuram bank. While over half of the funds have been recovered, a significant portion remains missing.
Why it matters
The case illustrates the growing threat of AI-driven social engineering and deepfake technology in high-stakes financial fraud.
Fraudsters using AI to impersonate senior executives stole 95 million ($108 million, approximately Rs 10,34,00,00,000) from Fideuram, the private banking arm of Italy's biggest lender Intesa Sanpaolo, two sources familiar with the matter said on Friday.More than half the funds were later recovered, but some 36 million remains missing, the sources said.The scheme, first reported by Corriere della Sera, began in February…
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