US Banks Block Third-Party AI Agents From Customer Accounts
Major US banks are restricting third-party AI agents after detecting unauthorized account activity and unpredictable behavior from automated tools using customer credentials.
Several major United States financial institutions, including JPMorgan Chase, Bank of America, Wells Fargo, and Morgan Stanley, have detected unauthorized third-party AI agents operating within customer accounts. These agents typically gain access using valid login credentials provided by users, a practice that violates bank guidelines requiring personal human authentication.
Banks report that some agents have exhibited unpredictable behavior, including contacting call centers or attempting actions independent of user instructions. These incidents have raised concerns that automated tools could independently transfer funds or execute unauthorized purchases. In response, institutions are rewriting their terms of service and restricting access to their platforms.
To balance security with customer demand, many banks are pivoting toward read-only access, which allows AI agents to view data without the ability to execute transactions. While Chase has warned customers against sharing passwords with AI tools, Morgan Stanley has reportedly begun blocking third-party agents from its platforms, though it denied observing instances of rogue AI agents accessing its systems.
