Sure, but I kind of think fines might be the wrong kind of disincentive for businesses. This breeds a cost-of-doing-business mentality. Lying to customers and breaking the law should be existentially dangerous to them.

Perhaps some of the many privileges we afford big businesses should be clawed back once they show they are not trustworthy. Things which make it more difficult for the executives to do their jobs, easier for regulators to catch them if they do it again, and easier for the competitors to eat their lunch.

Jail time for egregious offences is not a bad idea either. In AU, in the lead up to passing a bill to make wage theft a criminal offence, a lot of big companies magically reimbursed workers tens of millions of dollars for 'accidental' underpayment going back 10yrs or more. All of a sudden it wasn't just other peoples money they were playing with.