lol
i thought about explaining your folly, but then i remembered that i hate financial people. so i'm content to await the inevitable fate of your l33t financial "secure messaging service".
They (his vendor) are undoubtedly insured, if something goes wrong he will of course have someone to sue. No problem!
Exactly. This is why you outsource--"Not our fault. Throw them in jail."
Exactly this. Business is not about providing optimum security - this is financially impossible unless you have a black ops size budget. It's about protecting one's ass as best as possible and having mitigation in place for anything that may be your fault.