In the real world, It's the punishment after the fact that keeps us from committing a crime in the first place. If the punishment is severe enough, the reason for murder would have to be much more important. We're not resistant to knives or bullets. We're not fitted with shock collars that keep us in line. It's laws and punishment that keep society in check.
Exactly, this is why I don't kill all the stupid people I see every day, the threat of punishment for doing so, that's it, nothing more, nothing less. It's why people don't do so many things they'd rather do, because if they get caught, the possible punishment is a deterrent that keeps them from doing it.
In a video game, that threat isn't so much a factor, fines, so what, who cares? Security vessels showing up as soon as you interdict someone who's clean however, well, that's a different thing all together, because the threat of punishment is not a fine at that point, it's destruction of your ship, and THAT is something that will actually have an effect on people who want to break the law. Currently, it's a fine, and that's about it, fines, and we all know exactly how effective that is at being a deterrent.
And just like in real life, that deterrent doesn't dissuade some people from breaking the law anyway, be it a fine, jail time or even death, they still do it, so we'll still have people ingame who break the laws. Hell, we get a good crime and punishment system, I might even become a pirate again, it'd actually be a dangerous occupation and have some fun and thrills associated with it. Right now, well, I'm in more danger out exploring then I ever was pirating, and that's just all kinds of messed up.