Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what discussions his Department has had with the Financial Conduct Authority and Prudential Regulation Authority regarding the risks posed by autonomous artificial intelligence agents accessing customer bank accounts and undertaking financial transactions; and what assessment has been made of the adequacy of existing safeguards to protect consumers and financial institutions.

The Government is collaborating closely with regulators to monitor and respond to risks posed by AI to consumers, firms and financial stability. This remains a priority as the technology develops and more autonomous agentic use cases emerge, including the use of agents for financial transactions.

Existing frameworks – including the Consumer Duty, the Senior Managers and Certification Regime, operational resilience requirements and firms' wider obligations relating to governance and controls – continue to apply and provide an important foundation for managing the risks associated with autonomous agents.

The Government continues to collaborate with regulators to share intelligence, align approaches and consider where further work is needed. This includes working with industry and frontier AI labs to develop a trusted framework for agentic finance, with clear approaches to agent identity, delegated authority, accountability and execution.

The Government is also considering how the payments regulatory framework should respond to emerging innovations, including autonomous agentic payments. As part of its consultation on modernising the Payment Services Regulations, the Government sought views on whether existing requirements, including those relating to customer authentication, consent and liability for unauthorised transactions, remain appropriate as AI agents increasingly act on behalf of customers. The consultation closed on 6 October 2026 and the Government is reviewing the responses received.