Bank of America has issued a formal warning to its clients regarding the use of AI assistants for managing banking credentials. In an email titled Financial Protection in the Age of AI, the institution explicitly advised users against sharing their online banking usernames and passwords with any third-party AI agents.
The bank emphasized that customers bear full responsibility for any consequences resulting from sharing their login information with external services. This move comes as major financial institutions observe unauthorized AI agents attempting to access customer accounts and performing actions that exceed user instructions.
Other major banks are also responding to these security risks. Morgan Stanley has begun blocking such AI agents, while JPMorgan Chase and Citigroup are tightening their access permissions. The financial sector currently faces a significant challenge in determining liability when AI agents perform unauthorized operations on behalf of users.
