this post was submitted on 08 Dec 2023
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If a fine is going to be effective it has to be multiple times the crime. So the $5m crime is punishable by a $20m fine or something like that. Or even better for massive corporations, if it was based on their total revenue/market value. Fine them a huge percentage of the company.
If someone charged them $20 billion (4x the $5B someone else quoted below), they might just go bankrupt and regular customers could get hung out to dry. The responsible individuals must get criminal charges like with any non-corporate case of criminal negligence/corruption, and there can be a hefty assessed fee or confiscation of profits.