US banks block outside AI agents from customer accounts
Morgan Stanley has begun blocking unauthorized AI agents, while JPMorgan, Bank of America and Citigroup are restricting agent access, according to Axios.
Major US banks, including Morgan Stanley, Bank of America, JPMorgan and Wells Fargo, are moving to counter risks from unauthorized external AI agents operating inside customer accounts, according to Axios.
Morgan Stanley has begun blocking outside AI agents from accessing its platform. JPMorgan, Bank of America and Citigroup are also restricting agent access.
Most banks have granted, or are moving toward, read-only access for AI agents, letting them view customer financial data but not transact. Banks already give similar read-only access to outside apps such as the personal finance app Quicken.
A Morgan Stanley spokesperson said the company has not confirmed any case of uncontrolled AI agent access on its platform. A Chase spokesperson said customers should not share their ID and password with anyone.
Some banks have identified cases of agents contacting call centers or acting without user instruction, Axios reported on October 22.
Quick answers
What are US banks doing about AI agents?
Morgan Stanley has begun blocking outside AI agents from its platform, and JPMorgan, Bank of America and Citigroup are also restricting agent access.
Can AI agents still view customer data at banks?
Most banks have granted or are moving toward read-only access, which lets agents view financial data but not transact.
Has Morgan Stanley confirmed any unauthorized AI agent access?
A Morgan Stanley spokesperson said the company has not confirmed any case of uncontrolled AI agent access on its platform.