Mt Gox needs to use a third party for AML/KYC rather than do it themselves. There is too much incentive for them to simply claim documents are fake and block account holders because there is no transparency at all .
Its like putting the banks in charge of their own regulations through the SEC which caused the GFC !
MtGox doesn't need to do anything because it's regulated by it's customers (i.e. the free market). Just watch how fast they'll fall if they are stupid enough to start operating in bad faith.
They already are operating in bad faith. They are not informing their customers that they do not have the fiat funds to cover withdrawals over a few thousand dollars. There are a number of us at the moment with $10,000+ withdrawals being held indefinitely without any explanation, but if we make smaller withdrawals those go through. In my case, I've had zero problems with withdrawals in the past and I have been a verified member for quite some time. Haven't changed any account information, etc...