AI agents banned by several of Canada’s biggest banks as fears grow
RBC, TD and BMO described restrictions on outside AI agents, while CIBC and Scotiabank set out their own limits.
TL;DR
- RBC and TD said they were blocking third-party personal AI agents from direct access to authenticated banking services.
- BMO also said it does not permit agents to access its digital properties or execute transactions.
- CIBC said it does not support direct agent access to accounts, while Scotiabank said it would limit access.
Several major Canadian banks are restricting outside AI agents from accessing customers’ banking services. Global News and The Canadian Press obtained statements from the banks about their approaches. [1] [2]
RBC said it had decided to block third-party personal AI agents from authenticated digital properties, including online banking. TD said its block covered direct access to banking information where authentication is required. [1] [2]
BMO said it does not permit AI agents to access its digital properties or execute transactions. CIBC said it does not support personal agents directly opening or accessing accounts, and Scotiabank said it would limit third-party agent access to its platforms. [1] [2]
TD said it was putting its restriction in place while safeguards, authorization mechanisms and oversight are addressed. Scotiabank said it was monitoring evolving concerns; neither report specified how long the restrictions would remain in place. [1] [2]
Why it matters
The banks’ decisions draw an access boundary for consumer AI agents in a sensitive financial setting. They also show that agent providers and banks have yet to settle how authorization and oversight will work in practice.
Editor's note
Global News and The Canadian Press separately reported bank statements. The banks described different restrictions, and these statements do not establish that an AI agent caused a security incident at any of them.