Steep damages is in many cases not enough because the likelihood of being found out is so low. The damages then have to be extremely steep for this behavior to not be incentivised. Basically to bring the expectation value negative, the damages has to be larger than the profit gain by this behavior, divided by the probability to be caught. Often this will be more than the value of the company, and then the damages do not matter as they simply bankrupt. In that case, the rational business practice is to go for it and hope to not get caught. Any other behavior will eventually lead to bankruptcy in a competetive market.