Bank of America Warns Customers Against Sharing Passwords With AI Agents

Bank of America has asked customers not to share their usernames or passwords with anyone, including AI tools or agents that offer to act on their behalf, according to TechRadar.

The warning comes as people increasingly use AI assistants to make payments for them. Such transactions can be flagged as unauthorized by financial institutions, potentially locking customers out of their accounts. An agent may also buy something a customer did not want, leaving the customer to seek a refund from the bank.

AI agents may process sensitive information users provide, which could be exposed if a security flaw occurs. TechRadar notes that agents can also make purchases when an item’s price falls or it becomes available again, but says customers largely bear the responsibility when an agent uses their banking details to make a purchase.

The article also says AI companies promote assistants for tasks such as organizing schedules and analyzing spending. It cautions that sharing extensive personal details can have consequences, and describes an AI assistant as a system capable of acting quickly without always doing what the user intended. It adds that conversations may be used to train other AI systems.