What happens if someone reports me as spam?

Lets say I'm putting links in high PR forum profiles Angela style and a competitor or a forum mod gets angry and decides to fill a spam report on my site(s). What happens next? Could all my business die overnight just like that?

But then again, is it as simple as finding niches where everybody builds links in a manner that's not accepted in the TOS and reporting them all and then using only pure white hat and out ranking everybody else? It can't be.

Angela's site ranks number one for the term Angela and her article ranks number 2 for "backlinks", but I'm sure people over at G's web spam know about her very well or that somebody would have reported her by now.

What's up with all this. Are our rankings as fragile as people would like us to believe?

Thanks in advance

How can they tell it is "spam"? Having a profile with a link in it is not spam. If you are using stupid anchor text like "buy viagra now free porn here by guns" - then of course you are going to get reported.

This happened to me recently. The admin emailed me and stated he was reporting me for spamming. I replied that i was a real person and that there was no reason to report me. Never heard back from him. Unknown to him, i was using a US ip address even though i live elsewhere. One link and he considered the link spam? He stated he was contacting my ISP. Good luck with that.