From my own experience, Vod reacts fast when I message some of the trusted members to mark some defaulter or potential scammer. There was one instance when there was a delay in marking SuperDay, and he scammed Blazedout419 and was attempting more before finally getting marked. That was a rare case when Vod was late, and it also demonstrated the need to have someone like Vod who is usually very fast in marking them.
I am not saying Vod is right in this as I assume it would feel terrible to be at the receiving end of a wrong mark. But if Vod is removed then I can see a big problem, unless a few of the others step up publicly and say they are going to act on reports without delay.