Yup. Tough to think of anything other than monetary rewards. What could be done is one mod's pay subdivided among good reports (beyond a threshold).
Generally the problematic with monetary is going to be the accuracy. If something like this would get implemented, I'd strongly advise a minimum of 95-96% accuracy and a minimum count of a few thousand post (trivial number). After this threshold has been met, only then would the user in question get any kind of reward. I guess it could also be something in the lines of: a special rank (similar to Donator & VIP, e.g. contributor) after X amount of posts and also somewhere later maybe throw in a one time user-name change. These are just arbitrary thoughts as I'd like to avoid monetary rewards for this.