The core problem is that there are no single people who cannot be held legally responsible for the fraud. The responsibility is, by design, diffused across many

The core problem is that there are no single people who cannot be held legally responsible for the fraud. The responsibility is, by design, diffused across many actors. This problem has already been solved in engineering domains, like electrical or civil. There is a single engineer who has to sign off on the design of an electric product or a bridge. If the bridge collapses and the problem was with the design, the engineer loses their license or may go to jail. Similarly, in EU, every company that deals with customer data needs a Data Protection Officer. Customer data leaks, the person is responsible. This model has to be expanded to every other domain. Once people fear going to jail, a lot of fraud will go away.