I'd like to take it a step further as well - if the ref spots it and is confident then mirror all the implications of the false event you are creating - in this case nothing much as the defender went down in his own box but if a forward tries it in the area looking for a pen - give a pen at the other end. Same principle of balancing the risk and the reward. At the moment if a forward goes down when running at the last defender in the box he is risking a yellow card to try and gain a penalty and a red card for the opposition, hardly a disincentive to try it is it? I know there's a risk the ref makes a horlix of it and compounds the error of not giving us a pen by actually giving one to the opposition but he'd have to be really sure to do give the decision and in practice the threat of the punishment means that you'd only have to give one every couple of seasons in across all 5 divisions to wipe out diving anyway so it would arise so infrequently it becomes a non-issue.
Risk you're own red and conceding a penalty and the thought of taking a dive just won't cross his mind, he might still go down easily on minimal contact but a pure dive, no chance.
While I'm on the topic is there any pundit comment more infuriating than "If there's contact in the box you're entitled to go down" - no you're not, its a contact sport. you don't see this else where on the pitch - there's a tackle in the centre circle and both players feel the contact and are entitled to go down expecting a free kick - nonsense. Contact is not a foul inside the area any more than it is outside the area so stay on your feet and play!