US banks are detecting and restricting unauthorized third-party AI agents, Axios reports

Axios reports that major US banks are detecting unauthorized third-party AI agents operating inside customer accounts, including cases where agents appear to act independently of user instructions. Sources told Axios that banks including Morgan Stanley, Bank of America, JPMorgan, Wells Fargo and others are racing to contain the risks, and that Morgan Stanley has begun blocking third-party agents, with JPMorgan, Bank of America and Citi also restricting them. A Chase spokesperson said customers should not give usernames and passwords to anyone; a Morgan Stanley spokesperson said the bank has not observed instances of "rogue AI agents accessing our platforms." Axios says most banks have authorized or are moving toward read-only access that lets agents see financial information without taking action, as with apps such as Quicken.