In a sophisticated scam that has recently come to light, several prominent Italian business figures were targeted by fraudsters impersonating Italian Defense Minister Guido Crosetto. The perpetrators utilized advanced techniques, including cloned phone numbers and possibly AI-generated voice technology, to convincingly pose as Minister Crosetto and his staff. They contacted Italian billionaires, claiming that funds were urgently needed to pay ransoms for journalists allegedly kidnapped in the Middle East, using the recent case where Italian journalist Cecilia Sala was freed from Tehran after long negotiations.
Among those approached were former Inter Milan president Massimo Moratti, the Aleotti family of the Menarini pharmaceutical group, and the Beretta family, renowned for their firearms manufacturing business. While many of the targeted individuals recognized the fraudulent nature of the requests and refrained from transferring money, Moratti reportedly fell victim to the scam, transferring approximately one million euros. Reflecting on the incident, Moratti acknowledged the sophistication of the fraudsters, stating, “These people are good; it all seemed absolutely real. It can happen; of course, one doesn’t expect this kind of thing. But it happens to everyone.”
The Milan Public Prosecutor’s Office has received at least three formal complaints related to this scam and is actively investigating to identify and apprehend the individuals responsible. The Bank of Italy has also issued warnings against the fraudulent use of its name and logo, as some victims were led to believe they would be reimbursed by the institution.
This incident underscores the increasing sophistication of modern scams, particularly those targeting high-profile individuals. It serves as a stark reminder of the importance of vigilance and verification, even when communications appear legitimate. As the investigation progresses, it is hoped that the perpetrators will be brought to justice, and further measures will be implemented to protect potential targets from similar fraudulent schemes in the future.
In a related development, Defense Minister Guido Crosetto is scheduled to visit India in the coming months, aiming to strengthen the strategic partnership between the two nations. This visit follows a series of high-level exchanges, including meetings between Prime Minister Narendra Modi and Italian Prime Minister Giorgia Meloni.
Prime Minister Modi is set to co-chair the Artificial Intelligence Action Summit in Paris alongside French President Emmanuel Macron. The summit, taking place on February 10-11, 2025, will gather global leaders and tech executives to discuss guiding AI development for global benefit while mitigating risks. The event underscores the need for more regulation in the rapidly advancing field of artificial intelligence, especially in light of incidents like the recent scam involving AI-generated voice technology.
These events highlight the critical importance of international collaboration in addressing the challenges posed by emerging technologies. As AI continues to evolve, robust regulatory frameworks and ethical guidelines will be essential to prevent misuse and protect individuals and institutions from sophisticated fraudulent activities.
Vas Shenoy is a journalist, author and entreprenuer based in Rome. He is the special correspondant for Goachronicle and Incubees for European Affairs, Italy and the Vatican.
