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.
You are not logged in. However you can subscribe from another Fediverse account, for example Lemmy or Mastodon. To do this, paste the following into the search field of your instance: !canada@lemmy.ca
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.