Bank of America warns against sharing credentials with AI

Bank of America has asked its customers not to share their login credentials and passwords with anyone, "including an AI tool or agent that proposes to act on your behalf."

Rise of autonomous AI assistants

The popularity of autonomous AI assistants has exploded, and the trend of allowing personal AI assistants to make purchases on a customer's behalf has also developed, but this has created a real regulatory dilemma for banks.

Security risks of AI agents

AI agents record everything you tell them, including highly sensitive information that could be disclosed in the event of a security breach. In these cases, the responsibility largely falls on the customer.

Banks block third-party AI access

Major American banks have prevented third-party AI agents from accessing their customers' accounts and making transactions, following a report indicating that AI agents were accessing bank accounts and making transactions without considering users' instructions.

Concerns about AI's impact on banking

The banking sector is increasingly concerned that sophisticated AI agents could harm the banking system and institutions responsible for managing individuals' assets. Morgan Stanley has blocked third-party agents from accessing its platforms but has not found any cases of unauthorized or malicious AI agents.

JPMorgan's stance on AI risks

Jamie Dimon, CEO of JPMorgan Chase, stated that the largest American lender was developing tools to manage the risks associated with AI agents: "We will not allow any external agent to enter the company, because it is simply too risky for customers and for JPMorgan."

AI's benefits and pitfalls

The fact of entrusting a purchase to an AI agent presents an obvious advantage: if the price of an item drops or if it becomes available again after being out of stock, the agent can buy it so that users do not miss out. But these payments can sometimes be flagged as unauthorized by financial institutions, which can lead to the blocking of customers' accounts.

Customer responsibility in AI errors

It can also happen that an agent buys an item that a user did not want, which forces some customers to fight with their bank to try to get a refund. In these cases, the responsibility largely falls on the customer.

AI's potential for personal organization

Companies specializing in AI continue to praise the usefulness of AI agents for helping to organize a full life or to regain financial stability through the analysis of expenses and finances. But it is not necessary to reveal too many details about one's life.

Treat AI as a stranger

The best way to stay safe when using an AI assistant is to treat it as a stranger capable of doing almost anything you ask it to do instantly, but not always exactly as you want.

Meta's AI assistant and privacy concerns

In mid-October 2026, Meta's new AI assistant Muse was viewed as a "parasite" due to concerns about privacy and personal data security. Muse required "intrusive access" to messages, calendars, and bank accounts to function optimally, allowing the company to collect vast amounts of intimate information.

Autonomous actions by AI

Recent incidents had indeed shown that the Muse application could act autonomously without the explicit approval of its users. According to some critics, Muse allowed Meta to monetize the psychological profiling of users for the benefit of advertisers.