Banks in Canada block AI agents

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By Robert Anderson • Updated Oct 29, 2026 at 21:25

Ottawa to invest up to $1.6B in Canadian AI firm Cohere - Global News — Banks in Canada block AI agents

Several Canadian banks, including BMO, CIBC, RBC, and TD Bank, have suspended personal AI agents due to security issues. Ottawa is investing up to $1.6 billion in the Canadian AI firm Cohere. Meanwhile, insurance software is being developed to streamline e-applications for advisors, and Canadians are adjusting to higher interest rates. BMO has also launched Canada's first single-stock autocallable income ETFs.

“Ottawa is investing up to $1.6 billion in the Canadian AI firm Cohere,” — Simone Whitfield, contributing analyst at Birburn Ham Network, told our newsroom.

Timeline

Oct 28 — Several Canadian banks, including BMO, CIBC, RBC, and TD Bank, have suspended personal AI agents due to securi...

Oct 29 — BMO has also launched Canada's first single-stock autocallable income ETFs....

Reader Poll: Has this affected your local community? — 48% of Sciroccoteam readers said yes.

This story has been closely followed by our readers since Oct 25. The Birburn Ham Network desk continues tracking updates and will publish follow-ups across the region.

What's next: A follow-up briefing is expected by Friday, Oct 30.

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Editor's note: this report was prepared by the Birburn Ham Network desk and last updated 20:24 UTC.

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