MARTIN LEWIS WARNS ON SHARING BANK DATA WITH AI TOOLS

Martin Lewis has urged people to exercise caution when sharing financial information with artificial intelligence tools. Speaking on his BBC podcast, the consumer expert warned that bank statement details could reach scammers if uploaded to unsecured AI environments. He advised against using AI for investment advice, tax or pension decisions without independent verification, and cautioned users to consider what data they provide to these systems.

Lewis acknowledged that AI performs well in certain financial tasks, particularly identifying spending patterns and trends for budgeting purposes. He noted that AI can also usefully analyse lengthy policy documents. However, he stressed the importance of using reliable sources when seeking money guidance. Lewis explained that information provided to AI is typically used to train future versions of the technology, meaning user data is not kept private, though some AI tools do not use prompts for training purposes.

Lewis made his comments in response to a question about using AI to review bank statements for budgeting purposes. He recommended that users think carefully about which details they hand over, avoiding any information that could facilitate fraud or that they would not want shared elsewhere. He said: "When it comes to what you do with your money, you really do need a trusted source."