Major Banks Face AI 'Nightmare' As Agents Access Customer Accounts: Report

Major U.S. banks are moving to block third-party artificial intelligence agents from accessing customer accounts amid concerns that the technology could make financial decisions without users' approval, according to a report.

"AI agents are becoming a nightmare for America's banks, making their way into banking systems faster than financial institutions can respond," Axios reported.

Banks including Morgan Stanley, JPMorgan, Bank of America and Citi are restricting AI agents after detecting activity involving the automated tools, Axios reported, citing people familiar with the issue.

In some cases, customers gave AI agents their login credentials, while other agents appeared to take actions beyond what users requested.

Banking executives told the publication they are struggling to distinguish authorized activity from potentially dangerous automated access.

Read the full report at Axios.