Alex Stamos, chief security officer at Cognition and former Meta security chief, described it as “totally insane” that consumers are handing over financial logins and sensitive data to AI agent apps. On the “Big Technology Podcast,” Stamos said users are providing tools like Meta’s Muse and Instinct from Spear Street Technology with access to their 1Password vaults, enabling bots to manage finances or file taxes.
Stamos explained that banks now face a surge in customer-authorised bot activity, with bots interacting using valid credentials. He said Instinct is popular partly because it can bypass company safeguards designed to block automated access. This trend has created what Stamos called a “crazy tension” between banks seeking to prevent automated access and customers wanting convenience from new AI tools.
JPMorgan Chase CEO Jamie Dimon recently warned of the risks, noting that liability may shift away from banks if customers grant access to third-party agents. Dimon said JPMorgan is developing its own agentic tools while restricting external agent access. Meta declined to comment, but previously said Muse runs in a secure cloud environment.
