Banks including NatWest, Bank of America, ING, Capital One, New Zealand’s ASB Bank and Commonwealth Bank of Australia warned that AI agents used for online shopping could increase scams, fraud and data-privacy risks. The coalition’s report, titled "Principles for Technology Development" and released on Sept. 22, 2026, said agentic commerce is advancing faster than industry standards and consumer protections. It identified risks including agents collecting card details for third-party websites, steering shoppers toward payment methods with weaker safeguards, and bad actors compromising or impersonating agents and merchants. The report said responsibility and dispute resolution remain unclear when transactions fail or become fraudulent. The banks plan to discuss proposals with policymakers requiring disclosure when an AI agent participates in a transaction, greater visibility into how agents make decisions and stronger customer-data protections. They also said consumers and merchants should retain control over which AI-commerce platforms they use and that competing systems should interoperate. OpenAI, Anthropic, Google and Meta are promoting chatbots as shopping tools, while John Lewis said AI-agent searches rose to 2.5% of its total from 0.3% a year earlier. PYMNTS Intelligence found that half of U.S. consumers had completed a retail purchase with some AI assistance, but only about one in four were comfortable delegating both shopping and payment entirely to an AI agent. U.S. banking examiners have added AI oversight to routine examinations, although regulators have not issued an AI-specific rulebook.