I think sanctions really need to meet the actual circumstances of the situation.
Examples:
1. A player has his rep incorrect (say, an outcast friendly towards corsairs due to killing too many bounty hunters), so those npcs arent shooting at him during a fight. General server 'etiquette' says "shoot a cruise disruptor at the enemy npcs to be fair", but this rarely happens.
The sanction in this case should be a simple rep adjustment for the player.
2. A player has an oorp weapon setup, say he's an outcast flying a sabre using salamancas and coladas. Usually this is considered a severe rule infraction and is punished by loss of all weapons, all credits, and maybe even time in bastille...
The sanction, IMO, should simply be removal of all non-RP weapons.
3. A trader F1's during a piracy event, usually this constitutes the loss of all credits and guns. A trader losing -all- of his credits (usually running up into the hundreds of millions) is very likely to say screw off and leave the server after that sanction.
How about fining the trader half of his credits, up to say 100 million max, and giving those credits to the pirate that lost out on the event?