Banks Warn AI Shopping Bots Could Unleash New Wave of Scams

NatWest, Bank of America and other major banks warned that AI shopping agents raise the risk of scams, financial fraud and data privacy breaches. Financial leaders are demanding strict safety principles and clear liability rules before agentic commerce goes mainstream.

• Banks want clear liability rules for unauthorized charges made by AI agents
• OpenAI, Anthropic, Google and Meta are pushing chatbots as personal shopping assistants
• Retailers are optimizing product data to influence chatbot recommendations
• Banks call for rigorous identity checks and explicit opt-in permission