Not for me, anyway.
I jumped into my favorite highsec system and started scanning the belts. Just as I dropped cloak, I got a rather graceless communique from the local authorities, and before I could enter warp to somewhere (anywhere!) I was dead. I tried to come back in the cheapo ship my insurance company gave me to snatch up my loot, but got that blasted into scrap as well; the cops were still hanging around.
My security status, alas, is now below -5, and it seems I am not welcome anywhere in highsec anymore. If you see me in EVE space, I will probably appear "red flashy" to you. That means any pilot, anywhere, is free to fire upon me. Sentry guns at gates and stations won't come to my defense. But wait! It gets worse!
If I'm flying with my own mates, and I get attacked at a gate or station, the sentry guns will open on anyone in my gang who attacks back! It is a crime to come to the aid of a scummy pirate such as Ka Jolo.