Bank of America is asking customers to stop sharing their banking credentials with AI assistants, which are increasingly used to check balances, pay bills and transfer money. JPMorgan Chase, Morgan Stanley, Citigroup and Wells Fargo are also acting against the practice, which violates banks’ terms of service and has resulted in unauthorized activity. Morgan Stanley now blocks third-party agents outright, while Bank of America limits access to read-only permissions and other banks direct customers toward approved open banking channels. JPMorgan Chase CEO Jamie Dimon said “thousands” of rogue agents could be operating in the banking system, although no widespread thefts or confirmed losses have been reported. The banks emphasize that customers who share their credentials remain responsible for unauthorized actions carried out by AI agents.
Source: Read the original article
