US Banks Detect Unauthorized Account Access by AI Agents
Morgan Stanley, Bank of America, JPMorgan Chase, and Wells Fargo are among the institutions working to address security threats associated with AI agents, which are designed to complete tasks on behalf of people.
The increasing adoption of these tools has complicated security procedures at financial institutions, making it harder to distinguish genuine customers from automated agents using customers’ login details to enter accounts.
Even when customers give AI assistants permission to access their banking information, the activity may breach bank rules that require account holders to sign in personally, according to reports.
The situation has prompted concern among banking leaders about the risks of allowing AI systems to handle confidential financial data and perform transactions.
AI agents authorized to make purchases or move funds could potentially execute payments or transfers that customers never intended, creating financial exposure and security concerns for both account holders and banks.
People familiar with the matter also said some banks had observed AI agents contacting customer service centers or appearing to initiate actions without clear instructions from users.
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