I'm sorry but no. The law is the minimum level of enforcement for a working society, not an ethics guide. You're allowed to do better than wait for the situation to go from multiple suicides to a PR crisis before taking action.

If I offered protection to a group of unreasonable actors and discovered they needed protection because they like to bully people into taking their own life for fun, the last thing I would want is to accept money from them, let alone offer them protection.

Sure, the law can do better too.