Unauthorized AI Agents Already Gaining Access to Bank Accounts in the U.S.
Sources at several banks stated that agents performed actions without user permission
Banks, including Morgan Stanley, Bank of America, JPMorgan, and Wells Fargo, have begun changing the rules for third-party AI agents accessing their platforms. Some institutions have blocked such connections, others have introduced restrictions, and many are attempting to allow agents only the ability to view data without performing transactions.
A Chase representative told Axios that customers should not share logins and passwords with anyone, including AI agents. JPMorgan CEO Jamie Dimon warned on a recent investor call that thousands of illegitimate agents could be operating on financial platforms.
If a user voluntarily granted an agent access to their account, the system's actions may be considered voluntary rather than fraudulent. Therefore, according to the interpretation of laws such as the U.S. Electronic Fund Transfer Act cited in the article, the bank may not be liable for compensating damages.
