A $10m fine for mobile telcos is a rounding error. “Softer quarter due to outstanding legal and regulatory obligations…” The fines need to be a standard percentage of income or the personal assets / freedom of officers needs to be on the line if we want those punishments to change behavior.
It really should be fines plus ALL money gained through the illegal activity. If you steal a car you don't get to pawn the stereo, give back the money gained and then drive off into the sunset.
Jail time (hard jail time, not that country club bullshit) for the entire C-suite and you might see some change.
> The fines need to be a standard percentage of income or the personal assets / freedom of officers needs to be on the line
This is the obvious solution to most problems but of course they're the ones writing the laws so it'd never happen in a trillion years.