Closed Accounts is one of the few tag punishment cards that exists. A few more are starting to come out (Traffic Accident for instance) but they are still far and few between. That may actually be part of the design philosophy - with only a few cards that can punish the runner for being tagged (outside of the default corp action to trash a resource) it simplifies the options for playing around being tagged. Too many threats would make it an impossible situation to be tagged, forcing the runner into deadlock situations. With only a few possible fates (MU loss, credit loss, and meat damage) it can be played around with other cards, which gives a great option for the runner to make choices. Clear the tag, at the cost of time and money, or risk the fate that may come with the corp knowing the runners location.
That is good design. A choice, one that is difficult, but one that does not have a single viable option. Because there are only also a few cards that can tag the runner during the corp turn, this continues to make the tag mostly on the decision of the runner.
Closed Accounts is tag punishment, and it sees play, but never to the impact of cards like Scorched Earth have, but it can open scoring windows and create opportunities for the corp. It continues to see play, and will be a powerful card as long as ways to tag the runner are included in the corp deck, or at the least ways to force the runner to consider taking a tag.
(Written during the meta of Breaker Bay, part of the SanSan Cycle. For more reviews like it, visit wyldside.blogspot.com)