Of all the topics that come up whenever C&P or "griefing" is discussed, the one thing of which I'm always convinced is that huge fines and bounties are not the answer, or certainly not in isolation. There will always be players who are able, either through very thorough understanding of a game's mechanics or simply a surfeit of free time, to build up massive amounts of in-game currency.Only thing I can think of and which is coming in 2.4 is persistent MASSIVE galaxy wide fines. I gather sui-sideys have been fixed.
In the case of ED there are already players whose activities fall within FD's "undesired" spectrum who by their own admission are only doing what they do because they have accrued billions if not trillions of credits and are now "bored." There is no way to apply financial penalties to such players without either making the fines so huge as to terrify regular players into not risking any activity that might hit them, or by means-testing the fines. Neither of those is particularly balanced IMO, and would lead to accusations of victimisation or favouritism. It has to be a level playing field.
My opinion has always been that if you want to prevent "undesired" behaviour for a while, the only way to do it is to remove the perpetrator's ability to perform that behaviour. It's never been a popular viewpoint, and given that the forum already has threads claiming that even the revocation of docking privilege would be a step too far, I can't imagine there'd be a sudden surge of enthusiasm for seizure of weapons or ship impounding.
I don't know what the answer is, but I can pretty much guarantee it's not ever-larger fines. Time is money in ED and if you have lots of the former then the latter is trivial to come by. Large fines would just set a higher cost of entry for breaking Wheaton's Law, giving those with more time free reign to cause mayhem. In the worst case it would effectively justify it. "I've got trillions of credits, so the game allows me to do this."