Canada's big banks to block AI agents from accounts as expert urges payroll teams to set similar limits
Key points
- BMO, Royal Bank of Canada, CIBC and TD Bank say they will block AI agents from directly accessing online banking and financial information
- BMO CEO Darryl White said on October 21 at the Toronto forum that AI agents are "not protected"
- Privacy consultant John Wunderlich argues most Canadian workplaces have weaker AI governance over payroll data than banks, and that AI should not touch payroll calculations
According to CBC News, BMO, Royal Bank of Canada, CIBC and TD Bank have all said they will block AI agents from directly accessing online bank accounts and other financial information. At the Globe Toronto forum on October 21, BMO CEO Darryl White said AI agents are "not protected." Privacy consultant John Wunderlich argues that most Canadian workplaces have far weaker AI governance over payroll data than financial institutions, and that AI should not touch payroll calculations.
What employers should do
- Review AI tools' access to payroll data and set limits
Original report: Human Resources Director ↗Edited with AI assistance. Facts are based on official sources and original reports. For information only; not legal, immigration or insurance advice.