I think there is no anti cheat. Bungie just released this game without even thinking of an anti cheat didn't they?
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Of course there is. You don't see people getting banned all the time? The problem is that there's many cheaters and they keep making new cheats to get around anti cheats.
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There is obviously an anti cheat. It’s not good but it’s there people do get banned they are on the forums making posts if you have seen them. I know someone who got an insta ban for installing a cheat and was perks banned before he could load into a game
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They do have one, but it's probably the cheapest, most generic, most easily avoidable anti-cheat fresh from 2006, like everything else Bungie uses in this game for excellent player experiences (p2p from Napster, a game engine from 2008, the list goes on)