Cybercriminals have tricked a major Italian bank into wiring more than $100 million abroad by targeting executives with AI-powered deepfakes. Some of the money has since been recovered, but a significant portion remains unaccounted for.
The target was Fideuram – Intesa Sanpaolo Private Banking, a very large Italian private-banking and wealth-management group owned by Intesa Sanpaolo. It cannot be considered a “normal” retail bank – its core business is managing investments and wealth for affluent and high-net-worth clients.
According to the latest figures, the bank has around $513.25 billion in assets under management (AUM), more than 7,100 private bankers, and more than $9.85 billion in net profit.
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Source: TechRadar News
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