Do you trust Audiogon?

Recently, I came close to purchasing a five-figure item on Audiogon.  After quickly agreeing on a price, the seller did several things that caused me concern.  Some of them involved proposed violations of banking laws, and others were clear violations of Audiogon's own regulations.  I realized that this wasn't someone I should trust, and I might be receiving a box of rocks or a broken item, and I'd never again hear from the seller.  I killed the deal and reported this to Audiogon.  To my amazement, the seller's account and his listing are intact.
How does this protect honest buyers from predators?