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Policy & Regulation
BMO's CEO warns Canadians who share banking passwords with AI agents could lose their fraud protection
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Summary
BMO CEO Darryl White warned Canadians not to share banking passwords, PINs or other sensitive details with AI agents, which may expose the information to criminals and could affect fraud reimbursement. Speaking at the Toronto Global Forum on Oct. 21, he said people need more education about the risks. RBC is considering whether to block Meta’s Muse from sensitive customer data, while JPMorgan Chase has said it is blocking or limiting outside agents in customer accounts. Banks’ reimbursement policies generally depend on customers following account terms.