Why not spend it developing proper tracking infrastructure so that they stop failing financial audits.

Well yes, but that is something that they can’t hide from their investors and that information is public and tax fraud is one crime governments will kill corporations for

No. You just tax the corporations based only on revenue and make the tax rate an exponential curve. Instantly too big to fail becomes too expensive to survive. Thus the businesses will naturally split into smaller companies.

If a small business comply with KYC laws and gets breached, less than 1000 people get impacted. One would have to breach a million different companies to equal the scale of a single mega corporation.

Sounds more like big corporations are the problem here

Buy a physical safe. Encrypt a flash drive using a 128bit pass phrase that you memorize.

Combine with a ubikey storing a 256bit password that is stored somewhere hard to get to