Unauthorized AI agents are accessing US bank accounts, banks move to restrict access

Unauthorized third-party AI agents are reportedly accessing US bank accounts, with some agents taking actions without users' explicit permission, such as contacting call centers. Banks have tracked the activity and are responding with emergency measures.

Citing unnamed sources at several banking institutions, Axios reported that some AI agents appear to be operating independently of user instructions. Morgan Stanley, Bank of America, JPMorgan and Wells Fargo have moved quickly to contain risks, with some blocking third-party agents from their platforms and others imposing restrictions in certain cases. Several banks are seeking to give agents read-only access so they cannot make actual changes to accounts.

A JPMorgan spokesperson said customers should not give their usernames and passwords to anyone, including AI agents. CEO Jamie Dimon also warned on a recent earnings call that there could be thousands of rogue agents operating across financial platforms.

The report also noted that under laws such as the US Electronic Fund Transfer Act, banks are unlikely to be liable if users voluntarily hand over their account credentials to AI agents, making it difficult for users to recover funds in the event of losses.