Warning: Take this with a huge grain of salt.
I don't want to spread any false rumours, but a source told me that due to some dispute with AV being unsatisified with the recent wave of hacks on PC (and them leaking over to console), the Ban Candy shit is taking over completely and Steam is pulling out. Meaning VAC while it can detect things, won't do anything with them. Nor will there be any manual actions done from Steam's side, nor will they send any information to AV. Apparently I was told Steam is not allowed to do anything with bans as far as MW3 is conserned anymore. So now reports -> bans are the new way of dealing with things.. Steam reports will do nothing, only directly reporting to AV via Ban Candy. My source. told me this will lead to a) a lot of hacks being allowed to run rampant, and b) Legit players actually being in danger of getting banned because they're not awful like 99% of all players.
While the source of this info is legit, take it with a grain of salt. Just passing a long info, wether all of it's true or not remains to be seen. No trolling intended.