This interim report summarizes key themes from the second workshop of the Financial Industry Forum on Artificial Intelligence (FIFAI II), co-hosted by GRI and FINTRAC on October 1, 2025. The session brought together more than 60 participants from across Canada’s financial services ecosystem, including banks, insurers, credit unions, regulators, and technology providers, to examine the intersection of artificial intelligence and financial crime.
Discussions explored emerging threats such as AI-enabled fraud, data manipulation, and cybercrime; limited AI investment and talent; low barriers to entry for threat actors; and gaps in Canada’s regulatory and supervisory frameworks. Participants also considered opportunities to strengthen resilience, improve data integrity, and enhance information sharing across the sector.
Two additional FIFAI II workshops on consumer protection and financial stability are planned for late 2025, with a final report to be published in early 2026.