Italian private bank Fideuram was hit this week by a sophisticated fraud scheme using artificial intelligence and synthetic media. Reported losses range from €39.5 million to €95 million, depending on the account. The existing account of the incident said about €36 million was converted into crypto, while former Chairman Paolo Molesini transferred €95 million overseas after receiving a WhatsApp message and an AI-generated voice call impersonating Intesa Sanpaolo's CEO. The case highlights how synthetic media tools are being used against established financial institutions.