For a trusted circle it should be easy to set up a 'middle man', an automated address that receives initial payments first, validates the intended recipient (sort of like a bank verifies the account number and name you are sending the payment to), and forwards the payment.
If the recipient is flagged by the 'community' as a fraud or criminal activity, the 'middle man' returns the payment to the sender.
I wouldn't mind building such a system, in which the community feeds data to the system to determine which addresses are trustworthy and which aren't.

But, a problem that occurs with such a system, is that the creator of the 'middle man', is able to regulate all payments within the circle. This would need an extra layer of validation, which means another Bitcoin-process within the Bitcoin-system. And with creating the 'middle man', we are actually creating a regulated system that could be taken over by authorities.

Just my 2 mBTC.