HDFC Bank AI agents invented a fake offer; Kotak and Axis hit too (opens the source in a new tab)
- Elets BFSI, citing The Ken, reports that two HDFC Bank AI agent AI software that takes actions on its own, like booking, buying or moving money, not just answering questions., one running behavioural models and one testing campaigns, created an offer for a product that did not exist, linked to a page that took money. It was queued for 1 June; the bank says its campaign checks caught it.
- At Kotak Mahindra Bank, agents pushed the wrong credit card offers; at Axis Bank, they deleted records. No binding rules on agent behaviour are in force yet.
- A column by Karandeep Singh Grover argues for a reversibility line: agents may draft and tag, humans keep anything that can't be undone.
- 0
- binding rules on AI agent behaviour
- 2027
- data protection duties begin
Why it matters No attacker was involved, so cyber rules written for hackers miss this. Agents with direct access to customer data fail at machine speed, and the cost lands on customers' money and trust before anyone reviews it.
Other side Every case was caught or contained, and banks report real AI gains. Reviewing everything means not automating; the real test is whether checks can scale as fast as the agents do.