Crimes of moral turpitude (e.g. fraud), and even some lesser civil acts, are sometimes punished by denying the convicted person the right to have an executive job for a period of years.

And various forms of shunning have been codified into laws for a long time, e.g. https://en.wikipedia.org/wiki/Ostracism

But yes, I agree, the codification and conviction is better than non-governmental individual or group action.