Banks Warned of AI Shopping Agent Security Risks
A new industry report highlights emerging threats from AI tools capable of making consumer purchases.
Updated on Sept. 22, 2026 in Artificial Intelligence
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Major banks including NatWest and Bank of America have issued a report warning of scams and data-privacy breaches linked to AI shopping agents. These automated tools are increasingly selecting products and inputting card details on behalf of users.
Why it matters
The report cautions that AI technology is outpacing current consumer protections and industry standards. Consumers currently remain uncertain whether these agents are truly acting in their own financial interest when recommending products.
AI-originated search traffic at John Lewis climbed to 2.5 per cent in September 2026, a significant increase from the 0.3 per cent recorded in September 2025. These agents function by selecting products and executing purchases directly for consumers.
The players
NatWest
This is a major British commercial and retail bank that provides financial services to millions of customers.
Bank of America
This is a multinational investment bank and financial services company based in the United States.
John Lewis
This is a prominent high-end retail chain operating across the United Kingdom.
Capital One
This is a diversified bank that offers credit cards, auto loans, and banking products to consumers.
The details
The report outlines how retail platforms can influence product recommendations made by AI chatbots, creating potential conflicts of interest for users. Banks are now initiating discussions with policymakers to establish transparency requirements and enhanced safeguards for these automated systems.
Timeline
In September 2025, AI-driven search traffic accounted for 0.3 per cent of John Lewis traffic.
The multi-bank security report was released on September 22, 2026.
The Tech Race
The emergence of autonomous shopping agents represents a shift from static e-commerce interfaces to proactive, AI-driven consumerism. This development follows a pattern set by the European Union AI Act, which seeks to categorize and govern high-risk automated systems before they become standard.
Users relying on AI shopping agents should be aware that these tools may be influenced by retailers to favor specific products over others. Consumers are encouraged to verify that their financial information is not being automatically stored or input into third-party sites.
The takeaway
As AI agents become more common in the shopping experience, shoppers must remain vigilant regarding how their payment data is handled. Maintaining manual control over high-value purchases remains the best defense against potential fraud or hidden bias.
Further reading
For more information on the evolving landscape of automated tools, visit our Artificial Intelligence section.
Live Poll
Do you trust AI agents to securely handle your financial information while shopping online?
