Experts Say You Should Never Reveal This One Financial Detail to ChatGPT

There are many things you should avoid sharing with AI platforms, but experts say one financial detail is especially dangerous.

Plenty of people turn to AI for help with budgeting, reviewing spending habits and running scenarios for investing or paying off debt.

That may sound helpful, but financial experts warn there is one thing you should never disclose to large language models such as ChatGPT, Claude, Grok or Gemini: identifiable financial information.

That makes using AI for financial planning a little more complicated, but it is advice worth taking seriously.

When you enter specific details or upload images of documents, that information may be stored on the platform and could put you and your money at risk of fraud or identity theft.

“I highly recommend that clients should never share anything that identifies them or gives access to their accounts,” Nava Knafo, head of risk at National Bank Financial, told HuffPost. “Once they type it into a chatbot, they’ve lost control over where it goes.”

This includes bank account and card numbers, passwords or PINs for banking accounts, and government ID or Social Security numbers. Full bank statements, tax returns and loan documents are also risky to share with AI chatbots like ChatGPT because they contain your name, address, employer and account information.

Depending on the platform’s settings, Knafo said, “conversations may be stored, reviewed or used to improve models, and any system can be breached.”

“Chatbots also aren’t bound by the confidentiality and security obligations that apply to banks and licensed advisers,” Knafo continued. Criminals can use stolen identifiers for account takeover and identity theft, and uploading them to ChatGPT may hand them direct access to your information.

“There’s generally no reason an AI tool needs this information, and sharing it unnecessarily can create privacy and security risks, including unauthorised access to accounts or misuse of personal and financial data,” Guru Sahajpal, the industry lead of financial services and fintech at the AI and technology services company Cognizant, told HuffPost.

“As AI becomes more integrated into financial services, consumers need to maintain awareness and control over what information they share with AI tools, why they are sharing it, and how it could be used beyond its intended purpose.”

What to share instead, and what to do if you already exposed information

If you still want to use an AI platform for money-related help, keep the details general or anonymised. Oversharing can be dangerous, but broad information is much safer.

“AI tools can be helpful for financial education and money management questions,” Christina Roman, consumer education and advocacy expert for Experian, told HuffPost.

“For example, consumers can ask about budgeting strategies, credit score basics, debt repayment methods, saving for a major purchase or how different financial products work,” she said.

A sample prompt might look like this:

I want to go on holiday to [INSERT DESTINATION] for [INSERT NUMBER OF DAYS] in six months. Create a realistic budget accounting for flights, accommodations, food and activities. Include a 20% buffer for unexpected expenses.

“When used thoughtfully, AI can be a valuable resource for financial education, helping consumers better understand their options and make informed decisions about their money,” Roman said.

If you have already shared personal financial information with an AI chatbot, Knafo said there is no need to panic. “Sharing something doesn’t mean it has been misused, but treat it as exposed and take appropriate precautions. Start by deleting the conversation and checking the chatbot’s privacy settings to opt out of having your data used for model training.”

“

When using ChatGPT or any other AI tool, a good rule of thumb is to ask yourself if you would reveal what you’re sharing to a wider audience.

Because providers may retain data for some time, deleting the conversation may not remove it immediately, but it is still an important step.

Next, secure your accounts by changing passwords, turning on multi-factor authentication, and contacting your bank or card issuer right away to flag the account and ask whether your account or card numbers can be replaced.

“If you shared a document like a paystub that bundles your name, address and employer, monitor your credit reports and accounts especially closely,” Knafo explained.

If you notice suspicious activity or think your information is being misused, report it to your credit card issuer, bank or the Federal Trade Commission for guidance, especially if your Social Security number is involved.

In general, when using ChatGPT or any other AI tool, a good rule of thumb is to ask whether you would be comfortable revealing the same information to a wider audience. If you would not post it publicly or leave it on a public computer for a stranger to see, remove the identifying details first.

Keeping personal details private is an important way to help prevent theft of your information.

And if you rely on artificial intelligence for financial guidance, “treat the output as a starting point and verify it, because AI can be confidently wrong. It’s no substitute for a licensed professional on decisions like investing, taxes, or debt,” Knafo said.