The Portuguese takes his Chelsea side to Manchester City in the Premier League on Sunday, with the reigning champions having been fined around £50 million earlier this year for breaking the FFP regulations.
City will only have to pay £20m of that if they comply with the break-even rules in the future, but their squad for the Champions League has been restricted to just 21 players.
Ahead of the trip to the Etihad Stadium on Sunday, Mourinho believes UEFA should serve harsher penalties in a bid to dissuade clubs from flouting the rules.
"Everybody knows there are fines and, if these fines exist, control exists," he told Maisfutebol.
"But, anyway, are the fines fair? I don't think so. In my opinion the first thing to do would be to remove points and remove titles.
"If you have important capital which allows you to overcome financial fair play, if you win titles and then you are fined economically, you keep doing the same thing.
"They will take from you one or two players from the Champions League list. Then, instead of 24, you go with 22.
"But if you're stating that you'll start the next Champions League with six points fewer, or you won't play in the next edition of the Champions League and will go into the Europa League instead, it is more serious."
Chelsea top the Premier League table with a 100 per cent record, leaving City trailing by five points.
