A sophisticated fraud scheme using AI-generated voice technology has targeted top Italian business leaders, tricking them into wiring large sums of money overseas.
Scammers impersonated Italy’s Defence Minister Guido Crosetto, making fake phone calls to high-profile entrepreneurs, convincing them to send €1 million to Hong Kong under false pretenses.
Among the victims were fashion icon Giorgio Armani, former Inter Milan owner Massimo Moratti, and Prada co-founder Patrizio Bertelli.
Scam Exploits AI Voice Technology
The fraudsters used advanced artificial intelligence to replicate Crosetto’s voice and that of his staff. Victims received phone calls that sounded highly convincing, leading some to transfer funds before realizing the deception.
The scammers claimed the money was urgently needed to rescue kidnapped Italian journalists in the Middle East. They created a sense of urgency, pressuring the business leaders to act quickly.
“This is a serious fraud and an absurd affair,” Crosetto warned on social media platform X. He urged people to verify any unusual financial requests before taking action.
One Victim Sent Money Before Realizing the Fraud
At least one prominent businessman wired a significant sum, believing he was helping the Italian government. It was only after later communications that the victim realized it was a scam.
Authorities have not disclosed the exact amount stolen, but reports suggest millions of euros may have been at risk.
Italian Authorities Investigate the Fraud
Law enforcement agencies have launched a full-scale investigation to track down the perpetrators.
Police are reviewing the complete list of targeted individuals and analyzing whether the criminals used pre-recorded AI messages or real-time voice manipulation to carry out the scam.
Massimo Moratti and other victims have filed formal complaints, pushing for swift action against the fraudsters.
Growing Concerns Over AI Voice Scams
This case highlights the increasing threat of AI-driven fraud, where criminals use deepfake audio to impersonate public figures.
Cybersecurity experts warn that such scams are becoming more sophisticated, making it harder for victims to detect deception.
Governments and tech companies are now working on advanced verification methods to prevent AI-generated fraud. However, experts say businesses and individuals must remain cautious and verify suspicious calls before making financial transactions.
Authorities Urge Caution Amid Ongoing Investigation
Italian officials have advised business leaders, politicians, and the public to be on high alert. Anyone receiving a suspicious request for money should contact authorities before taking action.
Investigators are working with international agencies to trace the funds sent to Hong Kong and identify the fraudsters behind the scheme.
As AI technology advances, experts warn that similar scams could become more frequent and harder to stop.