Bank of America warns customers not to share passwords with AI assistants

In an email titled “Protecting your finances in the AI world,” Bank of America told customers never to share their banking credentials with another person, an outside service or an AI-enabled tool or agent offering to act on their behalf. The bank said that if customers share their credentials, they are responsible for activity resulting from that access.

According to TechCrunch, giving credentials to an AI assistant could allow transactions to happen without the customer’s knowledge, prompt the bank to lock the account over suspected fraud or expose the data if the assistant has a security flaw. TechCrunch also reported that banks and payment companies are still working out how AI agents could access accounts while grappling with reports of unauthorized agents accessing customers’ money.