Brief
Global banks warn AI shopping agents could spark fraud surge
Bank of America, Capital One and five peers released a paper outlining five safety principles for AI commerce.
By Felo News Desk · Published
Six global banks released a "principles paper" on Tuesday warning that AI‑driven shopping agents could raise scams, fraud and credit‑card disputes.
The document, titled Building Trust in Agentic Commerce, was issued by Bank of America, Capital One, ASB Bank, Commonwealth Bank of Australia, ING Group and NatWest Group. It cites concerns that AI agents acting on behalf of consumers may buy the wrong items, overspend or lose money to fraud, and that merchants could face higher chargeback rates.
The paper proposes five guiding principles – Transparency, Safety, Privacy & Data, Choice and Interoperability – that banks say AI developers should adopt to protect consumers and merchants.
“Consumers are unclear if AI agents will act in their interests,” the paper reads, adding that users may not know who to turn to if things go wrong.
Key facts
- Six banks issued the paper "Building Trust in Agentic Commerce" on Sept. 22, 2026. (mashable.com)
- The banks named are Bank of America, Capital One, ASB Bank, Commonwealth Bank of Australia, ING Group and NatWest Group. (mashable.com)
- The paper outlines five principles: Transparency, Safety, Privacy & Data, Choice, Interoperability. (mashable.com)
- Banks warn AI agents could increase scams, fraud and credit‑card chargebacks for merchants. (mashable.com)
Sources
- [1] mashable.com — originally reported as “Big banks warn that AI agents could lead to uptick in scams”
