US banks restrict third-party AI agents found operating inside customer accounts

Major U.S. banks are detecting unvetted third-party AI agents operating inside customer accounts, mostly agents that customers gave their own login credentials, and some banks have tracked agents contacting call centers or appearing to take actions independent of user instructions, Axios reported Oct. 22, citing people familiar with the issue. Morgan Stanley has begun blocking third-party agents and JPMorgan, Bank of America and Citi are also restricting them, per Axios; a Morgan Stanley spokesperson said the bank hasn’t observed “rogue AI agents accessing our platforms,” and a Chase spokesperson said customers should not give their usernames and passwords to anyone. Reuters, citing two people familiar with the situation, reported that banks have been blocking third-party agents from operating inside accounts and making transactions, and that one industry source said such transactions cannot be deemed unauthorized if the customer shared credentials.