No, because your friend isn't a tightly-regulated institution whose proper functioning is integral to the core of our economic and financial system, and as a "c

No, because your friend isn't a tightly-regulated institution whose proper functioning is integral to the core of our economic and financial system, and as a "client" of your friend you have no reason to generally expect that your friend will be trustworthy. And yes, I do think we should have some kind of public fund to help victims of theft and fraud. I can think of many worse uses of my tax money.