- Paolo Molesini approved transfers totaling €95 million to scammers after receiving a WhatsApp message and an AI imitation of a lawyer’s voice, with authorities recovering more than half the money.
- Molesini believed the request was legitimate after a follow-up caller claimed to be a senior partner at a law firm, directing his finance department to arrange several transfers mainly to accounts in China and Hong Kong.
- Scammers imitated a government minister’s voice in a separate case in 2025, showing that even a voice you recognize is not enough to verify a story, with the Federal Trade Commission warning about similar setups where scammers claim a relative needs help.
Paolo Molesini thought he was helping his banking group’s CEO with an urgent overseas transaction. Instead, a WhatsApp message and an AI imitation of a lawyer’s voice persuaded him to approve transfers totaling €95 million, roughly $108 million, to scammers
Molesini was chairman of Fideuram, the private banking arm of Intesa Sanpaolo, when the scheme began in February. Two sources familiar with the case described how the callers used the supposed lawyer’s confirmation to make the payment request appear legitimate.
Authorities recovered more than half the money. The sources said the rest remained untraced after passing through overseas accounts and into cryptocurrency.
He thought a lawyer had confirmed the request
The WhatsApp message appeared to come from Intesa Sanpaolo CEO Carlo Messina. A follow-up caller claimed to be a senior partner at a prominent law firm and backed up the instructions.
Believing he had a genuine request, Molesini directed his finance department to arrange several transfers. The money went mainly to accounts in China and Hong Kong.
Fideuram soon detected irregularities and contacted banks and authorities in several countries. Officials in China, Portugal, and Italy worked together on the recovery effort.
The sources said neither Molesini nor other Fideuram executives were under investigation. One living outside Europe on suspicion of computer fraud
Molesini resigned in March, citing personal reasons, and Fideuram offered no further explanation at the time. Both Fideuram and Intesa Sanpaolo declined to comment for Reuters.
In another Italian case, scammers imitated a government minister’s voice in 2025 and persuaded businessman Massimo Moratti to transfer nearly €1 million overseas. That money was later recovered, showing that the Fideuram case was not the first time an apparently authoritative voice had convinced someone to approve a substantial payment.
The person reassuring you could be in on it
A lawyer calling about a payment might seem like someone you can ask whether everything checks out. In Molesini’s case, the sources said that person was another impersonator backing up the original request.
The Federal Trade Commission warns about a similar setup when scammers claim a relative needs help. A supposed lawyer, police officer, or doctor can make the emergency sound credible. Scammers may also copy a loved one’s voice using a short recording and voice cloning software.
If someone calls saying a family member needs money, the FTC advises calling that person yourself on a number you already know. If you cannot reach them, ask another trusted friend or relative what is going on before paying. Even a voice you recognize is not enough to verify the story.
The FTC also warns that callers may insist you are the only person who can help and tell you to keep the emergency secret. Those instructions can discourage you from checking with someone else, especially when the caller keeps stressing that the money needs to be sent right away.
For a request at work, that could mean calling your colleague on their usual number or contacting the adviser through their firm. The point is to reach someone yourself, using contact details you already trust, instead of relying on the person who has later called to reassure you.
The report does not explain every check Fideuram made before sending the money. Though, it does show why an extra conversation may offer little protection when the scammers are the ones arranging it.
