The only solution that seems to work well that I've seen is having very active and good server admins who watch the gameplay and permaban cheaters. Requires a lot of man hours and good UI and info for them to look at, as well as (ideally) the ability to see replays.
That solution only works on servers hosted by players - I've never seen huge game companies that run their own servers (like GTA) have dedicated server admins. I guess they think they can just code cheaters out of their games, but they never can.
It's interesting how often accuracy problems fall back to requiring humans in the loop, and in the case of big consumer systems that means employing people in low wage parts of the world. For playing a match of a video game I don't think there's that much money involved balanced against the amount of playtime to pay for enough monitoring or to ensure a timely response to reports. Gamers always wheel out community run servers and admins because it's pushing the cost onto someone else (I don't think I've ever seen someone volunteer themselves for it), and they'd mostly refuse pay to play if that meant employing a staff that scaled as their online games are popular.