The summary.
CUSTOMER MONEY IS THEIRS, AND USING IT IS THE FAILURE MODE THAT ENDS FIRMS
Safeguard it separately, at a licensed institution, and reconcile total customer balances against funds actually held every day.
TRANSFERS BETWEEN BALANCES MUST BE ATOMIC
A debit without a credit destroys money; a credit without a debit creates it. And two concurrent transfers can both pass a balance check and overdraw.
ALWAYS SHOW THE RECIPIENT'S NAME BEFORE CONFIRMATION
It is the only defence against sending to the wrong person.
AGENT LIQUIDITY IS THE CENTRAL OPERATIONAL PROBLEM OF CASH NETWORKS
And the dispute route must be reachable without the agent, because the agent may be the problem.
THE EXCHANGE MARGIN USUALLY EXCEEDS THE VISIBLE FEE
Compare total cost, and record the rate applied to every transaction along with its source.
LEND ON AFFORDABILITY, NOT ONLY IDENTITY AND WILLINGNESS
And never build collection practices around contacting third parties or accessing contacts — those practices have drawn regulatory action and caused real harm here.
ESTABLISH WHICH REGULATED ACTIVITY YOU ARE CONDUCTING BEFORE BUILDING
Discovering it afterwards has ended businesses.
