Banks raise red flags over AI shopping bots and scam risks

The report further underlined that the group of banks also includes ING, New Zealand's ASB Bank, US lender Capital One and Commonwealth Bank of Australia.“They are concerned that AI agents may buy the wrong thing or spend too much – or even worse, lose their money to scams and fraud.

They are not sure whether they will be protected or who they ​will need to go ​to if things ⁠go wrong.”The report highlighted that customers were driving the adoption of agentic commerce.

It further identifies risks including AI agents requesting customers’ card details and channeling or guiding users toward a specific path or outcome that offers weaker protections.In the light of the ongoing situation, the banks plan to discuss a series of proposals such as disclosure when an AI agent is used, greater transparency over how AI agents make decisions.

Furthermore, the report added that consumers and merchants should also be free to choose the AI-powered e-commerce services they use ensuring they are capable of being substituted for each other.

Banks raise red flags over AI shopping bots and scam risks: What to know September 22, 2026.