Blindsided by AI Agents, Big Banks Scramble to Beef Up Security
“Axios reported Thursday that major U.S. banks, including Morgan Stanley, Bank of America, and Wells Fargo, are hastily updating their terms of service to prevent agents like Meta’s Muse from taking autonomous action within customer accounts. Such agents have exploded in popularity in recent weeks, with tech companies promoting them as 24/7 virtual assistants, capable of handling mundane tasks with little to no human oversight.”
US banks are blocking third-party AI agents access to customer accounts, sources say
“Major US banks have been blocking third-party AI agents from operating inside customer accounts and making transactions…In some cases, bank customers have shared their login ID and password with agents, with banks typically flagging and blocking those transactions, a person in the banking industry said. Still, such transactions cannot be deemed unauthorized if credentials were shared by the customer.”