Suspend a profile after being reported by many members
When a certain number of users report a profile, suspend the profile from the site until the admins' can take further action. The user should have no ability to interact with users until admins address the concerns.
I believe this is a good idea but better if combined with a reputation system: http://forums.grokiolabs.com/forums/281889-feedback/suggestions/7064528-reputation-tracking
If someone who has been around for a while and has an excellent reputation flags a profile as spam, it should count for a lot more than if someone who just signed up does it. In fact, it could even count for enough to hide the profile on their own... and spare users from having to wait until some X number of member report it. It would greatly speed up getting rid of egregious trespassers.
FWIW, I feel that a "suspended" profile should be simply hidden from view by default and treated as if having a negative reputation. Members could, if they wanted, change their settings to see posts by such profiles, or change their settings to allow wall posts or being contacted by such profiles.
This would be completely separate from the my type filter, of course.