In another thread, one of the guys working on the game mentioned that there is going to be a script running, catching people who do this, and removing them from the game.
I'd hope, for the players sake, that instead of immediate removal, they just get there account reset, with a notification of why.
I don't think we're going to have to worry much about cheating though if the script works properly, but people will always try and find ways around it, so who knows.