One bank executive told Axios they struggle to work out whether an AI agent inside a customer’s account was sent by that customer or went rogue.
Morgan Stanley, Bank of America, JPMorgan and Wells Fargo are racing to contain agents showing up in accounts. Some already know of unauthorized agents getting in.
Most of these agents log in with the customer’s own username and password. Even with your OK, that breaks the rules at most banks, which want a human to log in.
- Some agents called bank call centers or seemed to act without being told to.
- Executives called it horrifying, and Morgan Stanley has started blocking outside agents.
- Most banks are moving to read-only access, so agents can see your money but can’t move it.
- JPMorgan’s finance chief warned you could face the consequences if an agent you gave your login to made a transaction you didn’t want.
Chase’s advice is to never give your username and password to anyone, AI included.
Bernie Sanders called it insane and wants AI paused now.
Banks are already planning for the day after the worst happens, so they can quickly lock down accounts or give customers their access back.
