AI-Driven Scam Defrauds Italian Bank of €95 Million

In Crypto Regulations
October 03, 2026

AI-Driven Scam Defrauds Italian Bank of €95 Million

Fraudsters convinced the chairman of the Italian bank Fideuram to transfer nearly €95 million to overseas accounts using fake messages and an AI-cloned voice. Some of the funds were recovered, but at least €36 million were converted into cryptocurrency, according to Corriere della Sera, citing investigation materials.

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Steven M. Crimmins is a cryptocurrency strategist and freelance writer who has followed the blockchain industry since Bitcoin’s early days. Known for his sharp analysis of altcoins and trading strategies, Steven provides Satoshi News Africa readers with market-focused content grounded in research. He is especially interested in how African traders are adopting crypto as an alternative to traditional markets. Steven is also a podcast host, where he discusses emerging technologies and investment trends.