So disturbing for consumers. If you have a bank account, theres

sellbuy : Hes referring to a credit freeze. You have to go to each individual of the 3 credit reporting agencies and do it online. It does freeze YOU too from taking out new cards, loans etc so you have to unfreeze it for your own use and then freeze again if you want a new credit card or loan.
This doesnt effect someone from stealing money out of bank accounts tho, just from taking out crediit cards and loans etc.You can do 2 step authorization at your bank tho and i would def do that.

sweetie : Well relatively safe, i guess. But this AI stuff is like a runaway horse.

MissAmericanPie :
thank you. I actually sat down to initiate the hold on our accounts at the credit reporting agency's and totally got distracted. Very concerning we have to take these actions.

sellbuy : Call the individual accounts. Ie: Empower, Vantage. They will block your accounts. Does not affect the daily trading activity, just outbound money transfers.

Ruger5 This is what AI is saying today:SummaryWhether a consumer is responsible for money pilfered from their bank account by an AI bot depends entirely on how the AI bot gained access.
Under federal law (specifically Regulation E of the Electronic Fund Transfer Act), consumers are heavily protected against unauthorized electronic thefts, but the legal landscape changes if a consumer voluntarily gives an AI tool their credentials.Scenario 1: The AI Bot is a Hacker or Malicious Phishing ScamThe Consumer is NOT Responsible (provided they report it on time).
If a cybercriminal uses a malicious AI bot to crack passwords, bypass security protocols, or dupe a consumer into a phishing trap to drain the account, this is legally considered an unauthorized electronic fund transfer.
• The Rule: Under Regulation E, if a consumer informs the bank within two business days of learning about the fraud, their maximum liability is capped at $50.
• Late Reporting: If the consumer reports it after two business days but within 60 days of their bank statement being sent, their liability can rise to $500. Waiting longer than 60 days can make the consumer liable for the full amount.
• Negligence: Even if a consumer falls for a highly convincing AI deepfake or phishing bot, federal guidance stipulates that consumer negligence (like accidentally falling for a trick) does not void Regulation E protections.******Scenario 2: The Consumer Voluntarily Handed Credentials to an AI AssistantThe Consumer WILL LIKELY BE Responsible.
A massive gray area has emerged around "agentic AI"-third-party AI personal assistants (like shopping bots or automated wealth managers or password storing agents) that users explicitly trust with their banking usernames and passwords to perform tasks on their behalf.
• The Problem: If a consumer explicitly shares credentials with a legitimate AI bot, and that bot goes rogue, suffers a glitch, or makes an unauthorized transaction, major banks like Wells Fargo and Bank of America have updated their terms of service to state that the consumer assumes liability for the loss.
• The Bank's Defense: Because the customer intentionally bypassed security by sharing passwords, the bank treats the AI bot as an "authorized delegate". As far as the bank's servers can tell, the log-in was legitimate, and current laws do not explicitly protect users from mistakes made by their own chosen software.
• Bank Crackdown: To avoid these messy disputes, top institutions including JPMorgan Chase, Morgan Stanley, and Citi are actively blocking unauthorized third-party AI agents from connecting to customer accounts altogether.☹️

MissAmericanPie : sweetie : Ruger5 : First…this is not the type of website you should be trusting for reliable content…it's full of spammy ad popups and tricks to get you to accidentally click an ad…That said, it seems like it's mostly about "AI agents," meaning people telling their own AI bots to log on to their own bank accounts and do things for them. That's a bad idea on many levels right now, and not something normal people are doing or need to be worried about. Don't tell your AI bot to do financial transactions for you…

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Joe :
Mind blowing that anyone would even consider having an AI bot handle one's financial transactions. Thank you for mentioning this.