Axios Report: Unauthorized AI Agents Reaching Into US Bank Accounts

Third-party AI agents have been accessing US bank accounts without authorization, according to an Axios report based on unnamed sources at several banks. Some of these agents reportedly took actions that appeared to go beyond their users' instructions.

Banks that tracked the activity say agents have done things like contact call centers without being given specific permission. Morgan Stanley, Bank of America, JPMorgan and Wells Fargo have since moved to limit the exposure. Some blocked third-party agents from their platforms outright; others imposed restrictions in certain cases. Many are working toward giving agents read-only access, so they can view accounts but not move money or make changes.

A Chase spokesperson told Axios that customers should never share their usernames and passwords with anyone, AI agents included. JPMorgan CEO Jamie Dimon also raised the issue on a recent earnings call, warning that thousands of rogue agents could be operating across financial platforms.

There have been few reports of AI-driven financial disasters so far. Even so, handing an agent your login carries real risk: under laws such as the US Electronic Fund Transfer Act, a bank may not be liable to refund money lost to an agent's mistake, since the user voluntarily gave up access. It would not count as fraud if you handed over the keys yourself. In short, be careful out there.