Banks Warn AI Shopping Agents Raise Scam, Fraud, Privacy Risks; Set Principles

NatWest and Bank of America issued warnings that AI agents used for online shopping could increase risks of scams, fraud, and data privacy violations, and established principles for their development. Tech firms like OpenAI, Anthropic, Google, and Meta are promoting AI chatbots as shopping tools, while retailers compete to influence their recommendations. The banks' move signals a regulatory and risk-management push as AI agents become more integrated into consumer commerce.