I am 100% sure WGT already monitor IPs. It's ridiculously simple, so if they're not doing that they need a new security guy hired ASAP. Even if you're behind a router some simple php commands can find your IP. That isn't enough to find cheater, however, as IPs can change from day to day on the same computer, and different users can even have the same IP at different times. But it will of course narrow things quite a bit, as users from the same nation will generally have many of the numbers in the IP address in a similar band.
Then there are many other things, some quite simple, but I suppose I shouldn't mention it either. Point is, it's very easy to catch the majority of cheaters if WGT are doing their job and are actually taking it serious. The "Wall of Shame" of that chess site was a pretty good idea. Wouldn't at all mind if WGT did the same. That way we would at least see when that users are getting banned and that WGT are doing something.
What does WGT actually do to cheaters now? Are their accounts removed, or are they just blocked from logging into it? Most forums have a "Banned" tag for banned users. That is something WGT should do too, so we can at least see if a user has been banned.
Oh and btw, monitoring processes running on the host computer is a pretty slippery slope, and would probably get your anti-virus screaming blue murder, at least if it's any good. So although that may reveal some cheaters using software to auto-ding or whatever they do, it's something that may not be possible to actually do. It could easily be identified as some kind of virus.