A new report claims that major U.S. banks have now detected AI agents accessing customer accounts, and that some are even attempting to make transactions. Axios reports that it’s hard to differentiate between an actual human and an unauthorized bot, which is why some institutions, including Morgan Stanley, Bank of America, JPMorgan, and Wells Fargo, are blocking the technology and changing their terms of service to account for this.

While an AI agent or AI assistant can access an account with a user’s permission and through the use of their login credentials, this often goes against bank policy that requires users to maintain control of their account and not share it with anyone else. One of the fears that executives have is when an AI agent with login access takes unauthorized steps, like spending money or moving funds around without the explicit instructions of the account owner. There have even been situations where an AI agent called the bank directly and took actions independent of direct user command.…