Also if you are personally liable of gross negligence, you will:

1. Get paid more (as less fake "engineers" are available for the responsibility).

2. Push back harder (or at least document in detail) on malpractice during development. Manager did not listen to your warnings? Document it and when shit hits the fan, the manager gets the stick instead of you.

Hitting companies with monetary fines does not work. Hitting the employees with jail time will make sure they don't sign on dangerous or known problematic systems.

Manager not listening? Remind them they will face a trial if the issue does surface.