Option 3: start jailing these fraudsters for criminal fraud. Jail corporate profits for 6 months. Claw back any and all executive pay since the fraud began and distribute it to low level employees or other victims of the fraud.
If you can't survive as an honest company you don't deserve to survive.
And there are very few people that give the government as many screws as executives to modify their behavior.
In medical devices when you screw up they can stop you from selling in a country for a while. That usually wakes people up. Stopping them from doing business for a while would wake up a lot of companies. But they can always hold their employees hostage since they would take most of the suffering.
Unless of course the screw up is “normal”, like leaving your device unsecured and open to the internet (which is wide spread in the medical device community, at least in practice).
I guess with “screw up” I meant things the regulatory organization doesn’t like. This could mean just wrong paperwork.
As far as security goes things are improving. Five years ago you got brushed off if you pointed out how easily hackable the devices were. Now people are listening and the FDA also seems to understand issues better.
Yep. Restrict their access to countries, markets, permits, approvals, private jets, the list goes on. There's a lot we can do short of jailing. And we can and should jail.
Well it is not completely clean in that industry. When selling large capital equipment you influence the buyer alot - invite them to your HQ, big hotel, show your secret innovation and talk about massive deals in reagents or other system the buy from you...
