There's an entire bounty system set up in game, if you've got a problem with someone you either deal with it yourself or pay someone stronger to deal with it for you. It's a very simple system, and I'm unsure why so many people are using the 'banks' in game, because it's essentially handing money over to someone who can now buy an unstoppable ship.

Personally my 'bank' account was collecting ores in secure stations.