A Deepfake Call Cost Italy’s Biggest Bank €95 Million
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Fraudsters used AI to impersonate Intesa Sanpaolo executives and trick Fideuram into wiring money abroad, costing the bank €95 million. Prosecutors and investigators recovered about €53 million, leaving roughly €36 million missing after funds moved through overseas accounts and into cryptocurrency. Fideuram and other banks are being pushed to tighten approval processes beyond single-channel confirmations and adopt measures like emergency code words and real-time deepfake voice detection.