Google is close to deploying Penguin 2.0, addressing black hat web spam with more impact on low ranking sites and violations of their quality guidelines for advertisements and the flow-on effect of pagerank.
They are working on spammy search terms too so that there are cleaner results in SERPs.
Link spamming is also becoming less effective with sophisticated link analysis to reduce the impact of search engine rankings by websites that employ this type of SEO.
They are also working on better ways for webmasters to deal and report on hacked sites to Google.
Big improvements are being launched over the next few months to continue to remove the blackhat spam in SERP's and increase the rankings of high quality authoritative sites.
We recommend that any SEO Monitoring and link building that is done for your site is linked from relevant sources to avoid any traffic disruption from these upcoming algorithm updates.