Canada's Biggest Banks Block AI Agents From Customer Accounts

RBC, TD Bank Group, CIBC and BMO Financial Group will block personal AI agents from directly accessing authenticated customer accounts, according to CBC News. The banks cited risks involving security, privacy and fraud.

RBC told customers that connections from outside AI agents will stop working, Fintech.ca reported. Customers can continue using the bank's website, mobile app and existing digital tools. TD said it will block third party personal AI agents wherever authentication is required, while CIBC said it does not support agents directly opening or accessing accounts.

AI agents such as Meta's Muse and OpenAI's ChatGPT can connect to authorized bank and credit card accounts to monitor balances and transaction histories. Scotiabank said it will limit third party AI agents from its banking platforms while monitoring security concerns.