They will not ban them. It's a fine line for the company. They need to tell you they will punish the cheaters to keep you paying and playing. But they want to keep the cheaters paying and playing. All previously banned players have NOT been banned on Black Ops 2 but they are still banned on the previous games. So, BO2 will have a larger number of cheaters until they get enough complaints and people stop playing. Then they will crack down some to get you back in. Also, it's a new game. Cheating requires no skill and there is no challenge so once they prestige out they will quickly loose interest and the cheating will slack off some.
One good option on BO2 is you can view other players games. Just check out the leader boards and watch a few of their games. And that's just the cheats you can see. Boosting, aim bot, laggers, etc. Keep up with the cheaters you report in elite. They will almost never get reset. I like to post their cheating in YouTube with their gamer name as a search tag.
And the best one from the company. I'm sure not really thought out. If you leave too many games you will be put on probation. So, you must stay and play with the cheaters or you get punished.
The easiest thing to do would be if you report someone for cheating it PERMENANTLY bans them from being in a room with you. After a few months and being reported they will have fewer and fewer games they can join.