What I have said time and again on this forum.
You ban anyone who is caught cheating, not just ban them from the game they are cheating in, but ban them from every game you ever make, past, present and future. Then all the various game companies make a mutual agreement that anyone caught cheating isnt banned only from that 1 companies games but every companies games, past, present and future.
You ban every payment form they use, if they bought the game using paypal, you ban that paypal account from ever buying any game again, if they paid by credit card you ban that card from ever buying any game ever again.
You also hardware ban them, again, from every game ever.
You put the email address of anyone banned onto a centrally located list of banned users, searchable so that anyone can perform a search of someones email to see if they are banned for cheating anywhere.
These are just some ways (there are more that I can give) which , if companies are truly serious about stopping cheats, could do. However, none of the above will ever happen because the bottom line is that companies are not truly serious about stopping cheats, all they actually want to do is be "seen" to be doing something, no matter how small, so..just enough. On top of that, lets face it, when a company releases a press statement like "we've banned 65,000 accounts this month for cheating" , how do we even really know that they have banned 65,000 accounts for cheating. We only have their word for it, it might only be 5,000. Who knows...