Bank of America: Don't Share Your Credentials with an AI Assistant

Bank of America has reminded its clients never to share their banking credentials with an AI agent. The bank emphasizes that the client remains responsible in the event of sharing, while the financial sector is still testing the integration of AI agents and identifying security risks.

Client Responsibility in Case of Sharing

Account agreements at most banks hold clients responsible for the individuals to whom they disclose their credentials. Bank of America specifies in its email that if a client shares their credentials, they are responsible for any resulting activities. The bank did not immediately respond to a request for comment regarding this message.

An Email Warning Against Sharing Credentials with an AI Agent

Bank of America sent its clients an email titled "Protect Your Finances in the World of AI." In this email, it advises never to disclose one’s username and password to a third party or external service, including an AI-based tool or agent acting on behalf of the client.

Testing Agentic Uses and Real Risks

Banks, payment providers, and processors are still exploring how to enable access to bank accounts via AI tools, such as agentic payments that allow agents to autonomously make purchases. Sharing credentials with an AI assistant exposes clients to several risks: the agent could carry out transactions without the client being informed, the bank could lock access to the account if there is suspicion of intrusion, or a security breach in the AI assistant could lead to the leak of banking credentials. This warning comes as AI personal assistants are increasingly used and clients are sharing their access more frequently.