BANK OF AMERICA WARNS CUSTOMERS AGAINST SHARING PASSWORDS WITH AI AGENTS

Bank of America has urged customers not to share their banking usernames and passwords with AI agents. The bank made the request in an email headed “Protecting your finances in the AI World”. It told customers never to give their credentials to another person or an outside service, “including an AI-enabled tool or agent that offers to act on your behalf”. The warning addresses assistants that can make payments for customers, rather than simply provide information about purchases.

An AI agent can buy an item when its price falls or when it becomes available again after selling out. A bank may flag a payment made by an agent as unauthorised, potentially locking the customer out of their account. An agent could also buy an item the customer did not want, leaving the customer to seek the money back from the bank. These purchases depend on the agent having access to the customer’s payment details, which is the access Bank of America has warned customers against providing.

AI firms promote agents for tasks including organising meetings, analysing spending and helping users manage their finances. Those uses can involve giving an assistant sensitive information beyond the details needed for a single purchase. An assistant takes in information that users provide, and a security flaw could allow it to reveal those details. Bank of America’s email specifically extends its advice to tools that offer to act for customers, including tools customers may use to handle financial tasks.