As Semaphorism said, banning is not ideal, it’s a really bad player experience if it hits innocent players and you will get a lot of complaints. Imagine 1 little bug (forgetting to lower the severity etc.) could result in this. If anything, the best “punishment” in my opinion would be teleporting the suspected player and make them rejoin your game, that would make them have to inject the exploit to the Roblox player again, and if you’re doing this excessively it would result in them getting banned from Roblox for exploiting.
The best solutions against this would be to prevent the exploits from happening, but how this works is totally depending on your game. For instance, if you have a running game, you would like to set the most acceptable velocity rate to the max speed of the user, and if the player exceeds this for a little period of time, then you would need to do something, but not kicking them or banning them from your game. What you could do would be to lower the player’s max speed and if they’re still exceeding it despite reducing the max speed then you could certainly know they are cheating, just reset them.
But never make the player feel like they’re being “watched”, it just makes them uncomfortable. Sometimes, messages like “Hello, we think you are exploiting and will kindly ask you to stop, proceeding will result in various punishments. Do not attempt to bypass our Anti Cheat 2000” could result to more exploiting. It could make them feel like “Now I must exploit their game to prove them wrong, nobody will know I’m exploiting”.
You can also think of Jailbreak, it was prone to exploiting, they had no checks if players went to fast or teleported. They could rob anything at any time, as soon as the places were available to rob. I’m not sure how the network structure was when I last played and met the exploiter but it really did seem like they had bad input validation and checks on the server, as an exploiter could rob the bank in 0.1 seconds, which must mean that the server was basically just waiting for the client to send a request to give them their money. This is the kind of stuff you want to avoid, have proper checks on your server and on the client.
Having moderators (in the long run) is bad practice, I mean, sure, but you would need many moderators that you can rely on and trust, you would also need to have a good system in place for not making false reports to the mod team. The choice is entirely yours, though.